Iran's new oil investment contract to be ready this summer: Zanganeh
The first of Iran's new oil and gas investment contracts for international companies will be launched this summer and will invite bids to develop 10-15 fields, Oil Minister Bijan Namdar Zanganeh was quoted by the Shana news agency as saying. The Iran Petroleum Contract (IPC) is a cornerstone of the country's plan to raise crude production to the pre-sanctions level of four million barrels per day (bpd), and the OPEC member desperately needs $200 billion in foreign money to reach the goal. Zanganeh said a final draft for the contracts will ...
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