31 July 2016 - 11:29
  • News Code: 266047
Iran to Release Final IPC in Week: Official

TEHRAN, July 31 (Shana) -- Deputy Petroleum Minister in International Affairs and Trading Amir Hossein Zamaninia said Iran is to present dozens of major oil and gas projects under the new contract framework, known as Iran Petroleum Contract (IPC) in a matter of a few months.

Speaking to a Japan's Kyodo Newspaper in his Tehran office on Wednesday, Zamanian said, " I believe we are prepared to present our projects and a number of contracts including the IPC to the international oil market." 

He said, "We believe that major companies and mid-sized companies are all anxious to receive this information and getting engaged into how to get engaged in discussion for these contracts." 

He said Iran is going to have a number of major projects mostly development of it joint fields, some increased oil recovery (IOR) under the new contract model.

"I am very optimistic that things will start picking up within a few short months," he said. 

He said Iran has not yet presented its projects to the international community, adding, "In bits and pieces some of these project have been presented, but in a comprehensive manner, we have not done so yet. 

The official said IPC has gone through a domestic process of refinement because it has to do with that element of advantage that Iran has in terms of political stability and democratic principles.

News Code 266047

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