Arab Today, arab today iranian oil ministry to start reforming contracts
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Iranian oil ministry to start reforming contracts

Arab Today, arab today

Arab Today, arab today Iranian oil ministry to start reforming contracts

Tehran - FNA

The Iranian Oil ministry plans to start revising the structure of oil contracts as of next week in order to enhance recovery and facilitate attraction of foreign and domestic investments, Oil Minister Bijan Namdar Zanganeh said. Zanganeh said close link among the various stages of oil operations from exploration to development and creating attractive conditions for domestic and foreigner contractors are among the reasons behind reforming contracts. \"Those exploration contacts that were concluded in recent years having faults in their structure and needs revision,\" Zanaganeh said. \"During the first meeting with parliament’s energy commission members we discussed updating oil contracts; therefore the Oil Ministry will try to reform the structure of contracts through cooperation with the government and parliament,\" he continued. Iran’s oil fields are mature so oil contracts should be enough attractive for NIOC and contractors, Minister of Petroleum said. The minister added, \"Part of the future projects will be enhancing recovery rate projects which will be implemented in Iran’s mature oil and fields and I have decided to put implementation of more than ten such projects on the agenda.\" Earlier Iranian minister of petroleum stated that reforming oil contracts is a necessity. He demanded legal experts to do so by inviting famed domestic and foreign companies for cooperation. During his tenure as Petroleum Minister from 1997 to 2005, Zanaganeh succeeded to attract many investors to Iran’s upstream activities through offering new terms which included signing about 40 buyback contracts worth more than 30 billion dollars.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iranian oil ministry to start reforming contracts Arab Today, arab today iranian oil ministry to start reforming contracts

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iranian oil ministry to start reforming contracts Arab Today, arab today iranian oil ministry to start reforming contracts

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude

GMT 15:11 2017 Saturday ,10 June

Oil prices steady despite supply glut

GMT 14:28 2017 Sunday ,04 June

Kuwait oil price down 52 cents to USD47.83 pb

GMT 23:44 2017 Saturday ,03 June

OPEC daily basket price for Tuesday, 30th May 2017
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday