Arab Today, arab today new oil minister orders structural review of contracts
Last Updated : GMT 18:50:25
Arab Today, arab today
Arab Today, arab today

New Oil minister orders structural review of contracts

Arab Today, arab today

Arab Today, arab today New Oil minister orders structural review of contracts

Tehran - FNA

Oil Minister Bijan Namdar Zanganeh has ordered a structural revision of oil contracts, a senior oil official said. “The oil minister has issued a specific order for following up on reforming the structure of oil contracts in the country in order to invite all well-known domestic and foreign oil companies for maximizing national interests,” Abdol-Mohammad Delparish, director of consolidated planning at National Iranian Oil Company, told Shana. “At present, expert groups have been set up and the necessary studies have started to that effect,” he said. In the meantime, he added, domestic contractors are consulting Iranian and foreign experts in order to make the oil contracts more attractive for foreign investors. “We are currently studying different generations of buy-back contracts in the petroleum industry,” said Delparish “Currently, production sharing agreements are not the priority in the petroleum industry and the focus is on other types of contracts like buy-back which has already been experienced in the petroleum industry,” he added. Deplarish noted that the contractor accepts production risks under buy-back contracts. “Therefore, the more precise the production plan, the more recovery will be possible.” He said buy-back contracts will not be finalized if they do not serve enhanced recovery from oil reservoirs. Zanganeh said recently that the buy-back deals need to be reconsidered as Iran’s oil reservoirs need enhanced recovery.

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 new oil minister orders structural review of contracts Arab Today, arab today new oil minister orders structural review of 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 new oil minister orders structural review of contracts Arab Today, arab today new oil minister orders structural review of contracts

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
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 04:23 2017 Tuesday ,20 June

Oil prices flat after weeks of steep declines

GMT 06:08 2017 Sunday ,18 June

Lower oil prices set to test US shale driller

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
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