Tag Archives | Iran Petroleum Contract (IPC)

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 […]

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: […]