Iran putting final touches on new energy contracts
Iran expects more foreign investments with joint-venture energy contracts./ The Iranian government said Wednesday it would revise how it governs oil and natural gas contracts, though sanctions must be lifted for full utilization. Mehdi Hosseini, the director of a committee tasked with contract revisions, said Iran will be switching from a buy-back system to one based on joint ventures in the oil and natural gas sector. Iran under the terms of the previous buy-back contracts paid contractors a set price for oil and natural gas produced. ...
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