Bids in place for E&P projects by 49 Iranian companies, all with unrelated fields of activity

Business Materials 28 May 2016 17:50

Tehran, Iran, May 28

By Mehdi Sepahvand - Trend:

49 Iranian companies have announced their readiness to cooperate with the Oil Ministry in exploration and production (E&P) projects.

The news was reported by Mahbubeh Soleimani, an Oil Ministry official in charge of projects, in a press conference held to clarify the status of a set of tenders put in place by the ministry, SHANA news agency reported May 28.

Soleimani's statements, however, took a radical turn when she said besides the National Iranian Oil Company, there is no other company in Iran right now to engage in E&P projects.

All the 49 companies are mainly active in investment, funding, and upstream industries, she said.

She added the ministry has had to compromise a lot of its expectations in assessing the qualification of the companies to pick E&P projects.