Iran sweetens terms for oil investors
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Dubai
IRAN will pitch more than 50 oil and natural gas projects to foreign investors at a two-day conference in Tehran starting on Saturday as the Persian Gulf country prepares for the end of sanctions that have stifled development and production of its energy wealth.
The government hopes international companies will commit at least US$100 billion that Iran says it needs to boost oil-production capacity by more than one million barrels a day. Oil Minister Bijan Namdar Zanganeh will introduce at the same event a new type of investor contract offering better incentives than the buy-back agreements in the past.
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