Iran ratifies new petroleum contract model

Offshore staff

TEHRAN, Iran – The Iranian Cabinet has endorsed the general terms, organization, and pattern of the new upstream oil and gas documents introduced as the Iran Petroleum Contract (IPC), according to news service Shana.

Among the aims are to increase Iran’s oil and gas production capacity, especially in fields straddling the median line with neighboring countries; signing contracts with authorized companies in exploration, development, and production from oil and gas fields; and attracting foreign investment.

Minister of Petroleum Bijan Zangeneh told Shana the new contracts and projects will be outlined to foreign investors at a conference to be staged in Tehran between Oct. 23 and Nov. 21. An event in London will likely be staged subsequently.

In early September, Zanganeh also said Iran was interested in technology transfer from foreign partners to its domestic companies.

10/02/2015

 

Share your news with Offshore at news@offshore-mag.com

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Shell Leverages Data to Transform from Reactive to Predictive Operations

This 6-page report describes how Shell engaged in a massive project with OSIsoft to transform the...

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...