Baku, Azerbaijan, Sept. 30
By Fatih Karimov - Trend: Iran nuclear deal could bring $8 billion profit for investors.
Head of Iran's Oil Industry Research Center Hamidreza Katouzian, said that the implementation of the Joint Comprehensive Plan of Action could create a market for international companies and potential investors with $8 billion profit, Iran's Shana news agency reported Sept. 30.
He said that Iran is among 11 countries that can be turned into the world's most advanced economy in the 21st century, according to Goldman Sachs.
Iran has announced that $185 billion investment is needed in upstream oil and gas sector, as well as $70 billion in petrochemical and $200 billion in optimizing energy consumer sectors to halve the energy intensity, which is two times more than global averages.
Iran will unveil the new model of its oil contracts - named Iran Petroleum Contract or the IPC - to international investors in Tehran.
Iranian Oil Minister Bijan Namdar Zanganeh said that the IPC will be introduced to investors in the next Iranian fiscal month of Aban (Oct. 23-Nov. 21).
Iran wants long-term investment and encourages foreign investors to enter into long-term contracts. The main difference of the new type of contract from the usual 'buy-back' contract in Iran is that the IPC will be signed up to 25 years vs. seven years of 'buy-back'.
Edited by CN