Baku, Azerbaijan, Dec. 7
By Emil Ilgar – Trend:
About 50 international oil companies (IOCs) from all regions, except for the US, have submitted their profile documents to participate in oil and gas tenders based on new contract model, called the Iran Petroleum Contract, or IPC.
Ali Kardor, the head of National Iranian Oil Company, told Danesh-e Naft local journal that the foreign companies have time by Dec. 10 to submit their appeals for taking part in tenders.
Iran has introduced 49 oil and gas projects for foreign companies based on new the contract model. The country needs $100 billion of investment in upstream sector by 2021, of which 80 percent is expected to be put by foreigners.
Kardor said the first tender will be issued in early January 2017 for development of Azadegan oil field.