New contracts for working with foreign companies made difficult

EghtesadOnline: Deputy Minister of Petroleum Ali Kardor said on Monday that terms of new contracts for cooperation with foreign oil companies will be more difficult.

News ID: ۷۳۵۴۵۸

02 August 2016

'Since after implementation of the JCPOA, competitive conditions have got better and prices have become more suitable, the National Iranian Oil Company makes more hard decisions for cooperation with the international companies. So, the priority for cooperation is given to the technical and well-credited companies.'

Kardor made the remark in an interview with reporters on the sidelines of a ceremony to mark the 50th year of establishment of National Iranian Gas Company (NIGC).

Kardor said holding tender and reaching contract takes time but west Karoon oilfields, especially Azadegan joint fields, are prioritized.
On deals signed with the international companies, Kardor said the deals do not bear any obligation for the NIOC, reports IRNA.

As for export of gas, he said more than two million bpd oil is targeted to be exported and including export of gas condensates, the figure will reach 2,500,000 bpd.
Commenting on offering the bids for development of oil fields without holding any tender, he said to that end no plan has yet been devised.