Oil Investors Seek  Political Stability

Oil Investors Seek Political Stability

Political stability and security of the Islamic Republic are key factors for foreign companies before making investment in the country's oil sector, said a former oil minister.
"Foreigners need to feel assured of the country's future to be able to invest their assets here," Mohammad Gharazi, one of the eight candidates in the 2013 presidential election, told ILNA.
He said Iran's rich oil and gas reserves as well as the exceptional terms it has specified in the new oil contracts are the country's major points of strength in the post-sanctions era.
Iran's revised oil contract, known as Iran Petroleum Contract or IPC, is aimed at accelerating the development of oil and gas fields, making up for underdevelopment of joint fields over the past few years and employing new, advanced technologies in the energy sector.
Tehran has sweetened the terms of the new contract to attract billions of dollars in foreign direct investment for up to 50 oil exploration and production projects, according to officials.
Gharazi said since the landmark July 14 nuclear accord between Iran and six world powers has secured an unswerving political state appealing to foreign investors, conditions must be provided to hearten them to finance oil exploration and development projects in prioritized oilfields.
"Foreign states have followed the recent political developments closely and are sure to line up to negotiate oil deals as soon as oil embargos are fully lifted," he said.
Iran is scheduled to unveil the new oil contract in a conference in Tehran next month before a full-fledged unveiling in London on February 22-24.


Short URL : https://goo.gl/686fm7
  1. https://goo.gl/jDVTwD
  • https://goo.gl/SQdV7e
  • https://goo.gl/KHe3oB
  • https://goo.gl/vDPTrQ
  • https://goo.gl/oshLj4

You can also read ...

PetroChina Mulling to Suspend US LNG Purchases
PetroChina Company Limited may temporarily halt the purchase...
Caspian Sea Agreement to Help Boost Energy Plans
Five Caspian Sea states reached a breakthrough agreement on...
Total's Workers on Strike
Workers at three of Total’s North Sea oil platforms started a...
WTI, Brent Prices Slide as Emerging Market Woes Reduce Demand
Oil prices slipped on Monday as trade tensions and troubled...
Gas Talks With Iraq Underway
Iraq's Oil Ministry is discussing prospects of increasing gas...
NIORDC Planning Mass Production of Catalysts
Experts of the National Iranian Oil Refining and Distribution...
Tehran Groundwater Reserves Decline by 150 mcm Per Year
Groundwater reserves in Tehran Province have fallen by 150...
NIOC's OSP Discount Follows Global Norms
National Iranian Oil Company's reduction of official selling...