The head of Iran’s petroleum contracts committee Seyed Mehdi Hosseini has invited international oil companies to submit their bids in a tender for development of Iranian oil and gas fields.
Hossein said the tender will be held either in June or July 2016.
Ministry of Petroleum since about two years before has started devising new model for contracts based on which oil and gas fields of the country will develop.
In the years Iran was subjected to tyrannical sanctions, the neighbors used financial resources of international companies to put the oil and gas fields shared with Iran and also their independent fields into operation.
During sanctions era, Iran failed to follow the pursue its common and independent oil and gas development projects speedily due to domestic financial shortage and lack of access to foreign financial resources and new technologies.
Since it came to power, the 11th government has embarked on devising a new model of oil and gas contracts to attract foreign investors and benefit from more sophisticated oil and gas technologies so that international oil companies will get more motivated to contribute to Iranian oil development projects.
The process of devising new oil contracts model is in its final phases after two years of ups and downs and they will soon go into effect.
Minister of Petroleum Bijan Zanganeh had announced new model of oil contracts in May and it seems that this month, the remaining problems with that type of contracts will be eliminated and they will be ready to be officially announced.
On this basis, Hosseini said oil and gas fields tenders will be held in the near future.
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