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


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...