Speaking in a conference on oil contracts, Iran’s Minister of Oil Bijan Zanganeh said "Today the circumstances about the oil industry are completely different than previous decades. There have been unavoidable changes. Following these unavoidable changes we need to fix oil contracts so that we will be able to fall on the track to development like before.”
"Right now Iraq is trying to rebuild its conditions to sell oil. So we have to prepare contracts that are more attractive than neighbors’.”
He further added that Iran will be giving priority to shared fields compared to domestic ones.
Further maintaining that in the new model of contracts conditions will have to vary from field to field, especially from domestic to shared, he added "At the same time as we preserve national interests, we must create some attraction for foreign companies which would like to come to Iran.”