4 July 2016 - 11:54
  • News Code: 264217
Oilfield Development Contracts Either Buy-Back or EPCF

TEHRAN, July 04 (Shana) – Managing Director of National Iranian Oil Company (NIOC) Ali Karder said on Monday that contracts for development of a number of Iranian fields will be either buy-back or Engineering, Procurement, Construction and Financing Contract (EPCF) in nature.

Karder made in a ceremony to bid farewell and welcome the former and new heads of Petropars company.

He said joint fields will be offered in new model of oil contracts.

He added that the project for development of a number of fields will be entrusted to Iranian companies.

He said the projects to be financed by the NIOC are not so much high in number and focus on production and maintenance of oil.

News Code 264217

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