Iran’s new oil contracts can create 100,000 jobs

Business Materials 16 April 2017 18:59 (UTC +04:00)

Tehran, Iran, April 16

By Mehdi Sepahvand –- Trend:

Iran is insistently pursuing its newly developed oil contracts for, besides having the potential to insure the future development of the oil industry, they can help create up to 100,000 job opportunities, Oil Minister Bijan Zanganeh said.

The Iran Petroleum Contract (IPC), model is an oil contract model developed by the Ministry of Petroleum to be used for new projects.

President Hassan Rouhani last year said unemployment is the biggest threat looming over the country.
Based on the criteria of the International Labour Organization (ILO), unemployment rate in Iran is 11 percent, that is, 2.5 million unemployed people.