Iran will approve new type of oil contracts to attract foreign investors

Almaty. September 22. Silkroadnews - In the next two weeks, the government of Iran will adopt a new type of oil contracts for international investors "Iran Petroleum Contract" (IPC). Stated in the information with reference to the Oil Minister Bijan Namdar Zangane, reports Trend.
"A new type of oil contracts will be presented to foreign investors at conferences in Tehran and London. Oil and gas contracts IPC type have been designed specifically to enhance the attractiveness of Iranian oil projects to foreign investors. These contracts offer contractors the various stages of exploration, development and production in the fields as an integrated package", - says the publication.
New contacts are also designed to attract new technologies to Iran. Under the terms of new contracts such as IPC, Iranian specialists should be involved in the implementation of projects along with foreign experts to familiarize themselves with modern technology.
As noted, the foreign oil companies will conduct intensive negotiations with a view to returning to the Iranian market.
As part of the new IPC type contracts have been identified dozens of projects in the sphere of extraction of the oil industry of Iran, said earlier Vice-President for Legal Affairs Mehdi Hosseini.
According to him, the cost of these contracts could exceed $100 billion.