Young Journalists Club | Latest news of Iran and world

News ID: 6686
Publish Date: 7:55 - 05 April 2015
TEHRAN- Iran plans to unveil new oil and gas investment opportunities in a London conference in September, the Fars News Agency quoted Seyed Mehdi Hosseini, the head of Iran's Oil Contracts Revision Committee, as saying on Saturday.
The conference, which was due to be held on Feb. 23-25, has been delayed twice before, a move apparently aimed at giving time for sanctions on the country's oil sector to be lifted.
 
On August 25, Hosseini said Iran’s new contract, known as the Iran Petroleum Contract (IPC), would be a longer duration that the previous "buyback” contract. Iran will offer more than 20 new projects, a mix of exploration, green and brown fields, he added.
 
Iran has previously said the new model for oil field development contracts aims to tempt back foreign energy companies with 25-year deals. 
 
Iran and the 5+1 group (the five permanent members of the UN Security Council and Germany) signed a framework nuclear deal on Thursday in Lausanne, Switzerland.
 
Top Iranian officials say the country can raise production to 4 million bpd within six months of sanctions being lifted. Western experts are more conservative, saying 3 million to 3.5 million bpd is more likely.
 
Iranian Oil Minister Bijan Zanganeh has met with Western oil executives at OPEC's previous meetings in Vienna, including Italy's Eni, Royal Dutch Shell and Austrian oil and gas group OMV.
 
Eni, Shell, and Total have already developed some of Iran's oilfields from scratch.
Tags
Iran ، London ، Oil ، Eni ، Shell
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