Iran to announce global tender for oil projects

According to Mr Ali Kardor, CEO of the National Iranian Oil Company (NIOC) Iran will hold an event to put its oil projects out to tender for international contractors in early 2017.

He said that the first tender offer will focus on development of Iran’s South Azadegan oil field.

He further added that there is no limitation on the presence of US companies in Iran, it was their own choice not to cooperate in previous projects.

The above comments have been made during a ceremony in Tehran, which was held to sign a Memorandum of Understanding between the National Iranian Oil Company (NIOC) and the energy giant Royal Dutch Shell on the development of several oil fields in southern Iran.

As announced earlier in August, a new model of oil contract, known as Iran Petroleum Contract (IPC), will be used for projects which are put out to tender.

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Source: Iran-Business News
Picture: oilandgaspeople.com