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Iran eyes US$25b in investments from 50 oil & gas deals

International oil majors are weighing a return as sanctions are expected to be lifted in early 2016

Published Sun, Nov 29, 2015 · 09:50 PM
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Teheran

IRAN is seeking US$25 billion in investments from 50 deals involving international oil and gas companies, foreign executives were told on Saturday in Teheran as the government outlined new contractual terms.

Oil Minister Bijan Zanganeh opened a two-day conference in the capital attended by BP, Shell, Total of France, ENI of Italy, Repsol of Spain, OMV from Austria and other majors.

All are weighing a return if, as expected, sanctions related to Iran's nuclear programme are lifted in early 2016 in line with a July 14 deal between Teheran and six world powers led by the United States.

The new Iran Petroleum Contract (IPC) will replace "buy-back" agreements in which foreign companies were pa…

KEYWORDS IN THIS ARTICLE

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