TEHRAN – Director of planning of the National Iranian Gas Company Azizollah Ramezani said buy-back contracts were much better than finance deals.
He told PIN buy-back deals were much more attractive due to their flexible nature.
Ramezani said buy-back contracts can accelerate gas projects in the country.
Buy-back deals have become the standard contract for foreign investors wanting a cut of the world's second biggest oil and gas reserves.
Under these agreements, foreign firms operate Iranian oilfields for a period of about seven years and are compensated for their investment with a share of output.
The state then repurchases the field. Some buy-back deals have gone sour for Iran.
News ID 77328
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