Iran unveils draft model of new oil contracts
Iran’s Oil Ministry has unveiled the draft model of its new oil contracts aimed at drawing more foreign companies to develop Iran’s hydrocarbon reservoirs./ The “Iran Petroleum Contract” (IPC) was unveiled in Tehran on Sunday by Mehdi Hosseini, who heads an Oil Ministry-appointed committee to revise oil contracts. “In the new contracts, different stages of the petroleum industry (exploration, development and production) are commissioned in an integrated manner,” Hosseini told a forum organized to introduce new oil contracts. He said the IPC ...
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