In the coming two weeks the Iranian government will approve a new type of Iran Petroleum Contract (IPC) for the international investors, Iranian SHANA news agency reported yesterday quoting Iranian Oil Minister Bijan Namdar Zangane as saying.
He said the new type of oil contracts will be presented to the foreign investors at the conferences in Tehran and London.
IPC have been worked out specially to make Iranian oil projects more attractive for the foreign investors. The contracts offer the contractors various stages of exploration, development and extraction of the fields as a complex package.
The goal of the new contracts is also bring new technologies into Iran. According to the conditions of IPC, Iranian specialists must be involved into the project implementation to familiarize them with the modern technologies.
Iranian media reported that foreign oil companies have been negotiating to return to the Iranian market.
Tens of projects in field of Iranian oil industry are a part of the new IPCs, Iranian Vice President for Legal Affairs Mekhdi Khosseini said earlier,
He said the cost of the contracts could exceed $100 billion.
