Iran preparing to issue 50 oil and gas tenders in a month
Tehran, Iran, December 15
By Mehdi Sepahvand - Trend:
While Iranian oil minister believes the international sanctions on Iran would be eliminated in "coming days", the country is preparing to issue tenders for developing 50 upstream oil and gas projects within the framework of a new designed contract, called Iran Petroleum Contract (IPC).
The Deputy Oil Minister for International Affairs Amir Hossein Zamani Nia announced on Dec.14 that tenders would be issued in the last week of December or the first week of January.
Zamani Nia told ISNA that it is expected that nuclear deal between Iran and P5+1 (the US, France, Britain, Germany, China, and Russia) to be commenced in a week before or after January 1, 2016.
During last month Tehran hosted 137 companies from 45 countries for a two-day conference, during which legal generalities of Iran's new model of oil and gas contract (Iran Petroleum Contract, or IPC) were introduced. More details about the contracts will be unveiled at a conference likely to be held in London in February 2016.
The legal generalities of the IPC show that it covers a package for all exploration, development, and production stages in many of the fields. Moreover, the parties will hold a stake in the output for more than two decades.
The Iranian Oil Ministry will announce details about the terms and conditions of each oil and gas field within related tenders for foreign companies.
Under a deal reached between Iran and the P5+1 on July14, sanctions against Tehran will be lifted in exchange for restrictions on its nuclear activities. The IAEA has been given the role of verifying Iran's commitments under the deal.
The P5+1 have held talks in Vienna since December 3 aimed at drafting a resolution to settle Iran's PMD file (possible military dimensions to Tehran's nuclear program)in the Board of Governors. The resolution will be passed on December 15.