Speaking to Shana, Ali Akbar Mahrokh said the legal department of NIOC is pursuing finalization of the draft contract whose legal dimensions are in their final stages of completion.
"Once the financial and economic mechanisms of the model are finalized, the draft contract mode will be ready," he added.
Iran is devising a new model for its oil contracts to sweeten oil and gas projects for foreign investors willing to join energy projects in a ban-free Iran.
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