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.



Share your news with Offshore at

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


A Traders Guide to Analysis and Research

An e-book dedicated to helping you improve your analysis by looking at RBOB futures performance. ...

Storm Impact Analytics for Utilities

In recent years, increasingly volatile and extreme weather events have significantly impacted the...

Reach New Heights: Six Best Practices in Planning and Scheduling

These 6 best practices have created millions of dollars in value for many global companies. Learn...

Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...