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 shown interest to work in Iran,” Zamaninia said in a recent meeting with MOL deputy chief executive officer, Berislav Gaso, in Tehran, according to Shana.

Noting that the company has over 70 years of experience, he said it plans to employ Enhanced Oil Recovery (EOR) and Improved Oil Recovery (IOR) techniques.

Iran has named 29 international firms as being eligible to bid for oil and gas projects but they have been waiting for the country to finalize the new model, known as the Iran Petroleum Contract (IPC), before they move forward.

“We expect that very soon, hopefully within a month we will have the first one to be signed,” Deputy Oil Minister Rokneddin Javadi said in a conference in Paris on Saturday.

The new model has been the subject of repeated reviews amid fears that it might compromise Iran’s national interests at the expense of making business with the country more flexible.

(Source: Tasnim, under Creative Commons licence)

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