Iran to work through joint ventures under new oil system
Iran will work "shoulder-to-shoulder" with foreign energy companies in joint ventures set up under a new contract system, a government official said. Mehdi Hosseini, director of an Oil Ministry committee tasked with revising Iran's oil contracts, said the government was scrapping buy-back contracts in favor of joint ventures with international energy companies. "Under new contracts, Iranian experts will work shoulder-to-shoulder with foreign investment companies in order to become familiar with the latest technologies of the world," he was ...
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