Tag Archives | Iran Petroleum Contract (IPC)

Iran will Sign New Oil Deals Worth $15bn

Managing Director of the National Iranian Oil Company Ali Kardor announced that the NIOC will sign several multi-billion-dollar crude contracts with foreign countries to develop the country’s energy fields. “We estimate to conclude new oil contracts with international companies valued at $15 billion,” Kardor, also Iranian Deputy Oil Minister, said. He, meantime, pointed to the […]

Zangeneh Prioritizes NIOC Projects for This Year

Iran crude oil output should stabilize at 4 million barrels per day by the end of the current fiscal in March 2018. Restoring relations with oil majors and raising crude production top Iran Oil Ministry’s priority list, Bijan Namdar Zanganeh, the oil minister, said. In a letter to Ali Kardor, managing director of the National […]

Iran to Sign $80bn Oil Deals in 2 Years

Iran plans to strike $80 billion worth of oil contracts over coming two years as the country is set to implement newly-developed IPC contracts, a deputy head of National Iranian Oil Company (NIOC) said on Monday. “After signing $80 billion worth of contracts over the next two years, a labor market valued at around $50 […]

Iran’s New Oil Contracts “Will Help Job Creation”

New contracts with international oil majors will help create thousands of jobs and plough billions of dollars into the key petroleum industry, according to Reza Khayyamian, head of the Society of Iranian Petroleum Industries Equipment Manufacturers. “If foreign companies come to Iran’s energy market and sign the (oil) deals, almost 100,000 jobs will be created,” […]

Hungary’s MOL considers Iran Oil Projects

Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia said Hungarian oil and gas group MOL has expressed willingness to enter into partnership with Iranian firms and join the country’s oil and projects. “Presence and partnership in natural gas export projects in Iran and construction of gas pipelines were the main areas MOL has […]

National Security Council reviewing new Oil Contract Model

By John Lee. According to Reuters, Iran’s Supreme National Security Council (SNSC) is still reviewing the new Iran Petroleum Contract (IPC) model. Oil Minister Bijan Zanganeh was quoted as saying that the contracts appear to face fresh delays; it has been delayed several times due to opposition from hardline rivals of President Hassan Rouhani. Zanganeh […]

Final Version of New-Style Iran Oil Contracts Prepared

The ultimate version of a new format of Iran’s oil contracts, known as Iran Petroleum Contract (IPC), has been prepared in compliance with the cabinet’s measure and will be used for putting development of a major oil field out to tender in spring. According to Tasnim dispatches, the final version complies with the conditions set […]

Lukoil Optimistic on Iran Oil Deals

By John Lee. A senior executive at Russia’s Lukoil has said he is optimistic about new oil deals in Iran. Gati Al Jebouri [Gati Saadi Al-Jebouri] (pictured), the company’s vice president in the region, told Gulf News: “… we are in active discussion with NIOC (National Iranian Oil Company) to develop two oilfields, Ab-Teymur and […]

NIOC Denies Halt to New-Style Iran Oil Contract

An Iranian oil official dismissed comments by an MP that a new format of the country’s oil contracts has been abandoned, saying the high degree of sensitivity requires experts to spend more time on formulating the final version of the contract before it comes into force. Speaking to Tasnim on Tuesday, CEO of the National […]

Iran to Launch First New-Style Oil Tender in 4 Wks

A senior Iranian oil official announced that the development of a big oilfield in the southwestern province of Khuzestan will be put to tender for the first time under a new model of oil contracts, known as Iran Petroleum Contract (IPC), within up to four coming weeks. The project to develop South Azadegan oilfield, would […]