Tag Archives | Iran Petroleum Contract (IPC)

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 […]

Iran Approves 29 Int’l Companies for Oil Projects

Iran’s oil ministry has certified 29 international companies to bid for oil and gas projects in the country under its new format of oil contracts. According to the report by the oil ministry’s news website Shana, 29 companies, including Shell, France’s Total, Italy’s Eni, Malaysia’s Petronas and Russia’s Gazprom and Lukoil, as well as companies […]

Iran to Announce Int’l Tender Offer for Oil Projects

Iran is going to hold an event in early 2017 to put its oil projects out to tender for global contractors, an official announced. Speaking to reporters on Wednesday, CEO of the National Iranian Oil Company (NIOC) Ali Kardor said the international tender offer is scheduled for the early months of 2017. According to the […]

Will Iran attract Int’l Oil Firms in Post-Sanctions Era?

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The signing of a heads of agreement (HOA) between Paris-based Total SA, China National Petroleum Corp. (CNPC) and Iran’s Petropars on the development of phase 11 of the South Pars gas field is an […]

Total Signs $4.8bn Gas Deal with Iran

By John Lee. French oil giant Total has signed a Heads of Agreement (HoA) with the National Iranian Oil Company (NIOC) for the development of phase 11 of South Pars, the world’s largest gas field. The company becomes the first western energy firm to sign a major deal with Tehran since the lifting of international […]

BP in Talks with Iran to Develop 4 Oilfields

The Director of the National Iranian South Oil Company (NISOC), Bijan Alipour, said negotiations are underway with the British Petroleum (BP) on development of four oilfields in south of Iran. The National Iranian South Oil Company has held talks with 22 domestic and foreign companies for contracts to develop Karanj, Parsi, Rag Sefid and Shadegan […]

Iran to sign 6 Oil Contracts with Int’l Firms

Iran will soon sign six agreements with international energy giants over the development of its oil sector projects, Gholam-Reza Manouchehri, the deputy for engineering and development affairs of the National Iranian Oil Company (NIOC) stated. Emphasizing that the companies that win oil sector deals in Iran will have to team up with locals Manouchehri said: […]

Investors “still in the Dark” on Oil Contract Terms

By John Lee. Senior executives from several major oil companies have told Reuters that they still had not been given sufficient information about the geology of Iranian fields or contract terms, and that they were also unclear about how quickly they would be able to recoup their investment and who they could partner with locally. […]

Iran Calls for Oil Majors to Tender

Iran has invited global energy giants to a tender for the development of several of its key oil sector projects. The National Iranian Oil Company (NIOC) has called on foreign exploration and production companies to submit the required pre-qualification documents for the tender. It is stated in the statement published on NIOC’s website that the […]