Iran has signed the first oil contract under the new rules

Almaty. October 6. Silkroadnews - The first oil contract under the new rules, developed by the Iranian Oil Ministry, was signed in Tehran on Tuesday, IrTAG writes.

The $2.5 billion contract was signed with the Iranian company «Persia Oil&Gas» to develop three oil fields, including Yaran.

«Persia Oil&Gas» is a part of eight companies that passed certification and have been selected by the Iranian Oil Ministry for conclusion of contracts with foreign companies.

Earlier Iran announced to carry out the first international tender for oil field development under a new model of contracts in October with Southern Ozodagon (province Huziston) to be put on tender.

Iranian Oil Minister Bijan Namdar Zanganeh said the project prepared by his office involves changing the conditions for tenders for the foreign companies to develop the Iranian oil and gas fields. These conditions, according to the Minister, will help to eliminate the mistrust (regarding to Iran) and boost the investors and international oil companies' motivation to join the Iranian market.