23 August 2016 - 11:08
  • News Code: 267470
IPC in no Contrast with Resistive Economy: Expert

TEHRAN, Aug 23 (Shana) – A member of the board of directors at the Oil, Gas and Petrochemical Faculty of Amir Kabir University of Technology Hossein Afarideh says the new framework of oil contracts model is in no contradiction with the economy of resistance.

"Any delays in application of the new contracts model will incur huge losses on the country's oil industry," said the scholar, adding, "The nature of the new framework is in no contradiction with the principles of the economy of resistance and there is no need to worry about this issue."

Speaking to Shana, Afarideh said years of experience shows that the previous model of contracts was not effective and persuasive enough for foreign developers. 

"The short term of the deals was not beneficial for foreigners as was not good for the reserves' steady production, leading to their exodus from the country creating serious troubles in development of the fields." 

He said during the previous years that Iran was developing these new contract models, neighboring countries had forged deals with international oil companies to develop the joint fields they share with Iran.

The senior lecturer further said any delay in application of the new deals will wreak havoc on the country's oil income. 
News Code 267470

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