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On August 7, Iranian Oil Minister Zangane said the country plans to officially publish a new version of the contract
for foreign investors to invest in Iran's oil industry in December.
The new version of the contract will be more attractive
than the old one.
Iran's previously executed oil contracts, also known as "buyback contracts", are widely believed to be unable to effectively protect the interests of
foreign investors.
Iranian oil ministry officials said that according to the new version of the contract, Iran will jointly fund the establishment of joint ventures with foreign companies to share risks and benefits
.
This means that foreign capital can enter the entire oil and gas industry chain
from exploration, development and construction to the later sales process.
In exchange, Iran will require foreign companies to transfer technology
.
Officials at the same time said the ministry has identified nearly 50 oil and gas engineering projects that will be presented to foreign companies at the December oil conference, with a total value of $185 billion
.
On August 7, Iranian Oil Minister Zangane said the country plans to officially publish a new version of the contract
for foreign investors to invest in Iran's oil industry in December.
The new version of the contract will be more attractive
than the old one.
Iran's previously executed oil contracts, also known as "buyback contracts", are widely believed to be unable to effectively protect the interests of
foreign investors.
Iranian oil ministry officials said that according to the new version of the contract, Iran will jointly fund the establishment of joint ventures with foreign companies to share risks and benefits
.
This means that foreign capital can enter the entire oil and gas industry chain
from exploration, development and construction to the later sales process.
In exchange, Iran will require foreign companies to transfer technology
.
Officials at the same time said the ministry has identified nearly 50 oil and gas engineering projects that will be presented to foreign companies at the December oil conference, with a total value of $185 billion
.
