Indian consortium will develop Iranian mine

Almaty. December 7. Silkroadnews - Iranian Offshore Oil Company and the Indian consortium of several companies, have agreed on the issue of signing a contract worth $3 billion for the development of the gas field Farzad B in the Persian Gulf, reports IrTAG.
According to Managing Director of Offshore Oil Company Hafez Saeed, the consortium was contractor at the stages of exploration and development of Farzad B, but later stopped working due to the sanctions imposed on Iran.
S.Hafezi added that representatives of the group of Indian companies visited Tehran last week to become familiar with the terms of the new oil contracts in Iran.
The new model of Iran's oil contracts - IPC - has been specially designed to increase the attractiveness of Iranian oil projects to foreign investors. It offers contractors various stages of exploration, development and production as an integrated package.
Foreign oil companies are now engaged in intensive negotiations with a view to returning to the market of the country.
Dozens of projects in the mining sector of the oil industry have been identified as part of the new model contracts, said earlier Iranian Vice President for Legal Affairs Mehdi Husseini.
According to him, the total value of these contracts could exceed $100 billion.