NIOC Announces Pre-Conditions for Int’l Contracts

The Managing Director of the National Iranian Oil Company (NIOC) has said that HSE tops the list of Iran’s expectations to be observed by the international companies which are going to take part in the NIOC’s projects.

In addition to observing the health, safety, and environment (HSE) standards, the foreign parties are required to increase the role of Iranian manufacturers and industrialists in the oil and gas projects,” Rokneddin Javadi (pictured) told Shana.

He said that transfer of technology is the third demand on the foreign partners and added, “If they are interested in investing in manufacturing of goods in Iran, we will definitely welcome their initiative.

According to Javadi, the newly-introduced Iran Petroleum Contracts (IPC) provide for the companies to secure a longer presence of one or two decades in the projects in Iran for implementation of their contracts.

We are not merely thinking of oil and gas fields,” he added, “Rather we need the development of appropriate infra-structures.

We expect that development of the infra-structures will be considered in their proposals and that considering the social responsibilities with regard to the Iranian culture and the demands of the areas where investment is going to be made will be put on the agenda.

The tender contracts for the development of the joint oil and gas fields have the priority, he said urging the foreign companies to focus their attention in this field.

(Source: PEDEC)

One Response to NIOC Announces Pre-Conditions for Int’l Contracts

  1. Hassan 11th January 2016 at 12:25 am #

    Iran will have to introduce new legislation relating to labor, tax and other laws to attract investment and make it easy to do business in Iran. Presently the labor and tax regulations are such foreign companies are only interested in selling to Iran and getting dollars. If wealthy Iranians are taking their wealth out of Iran to places such as the USA and Canada due to the hostile taxation and investment climate, corruption plus bureaucracy how can anyone expect a foreign investor bring capital and invest in Iran.

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