Official: Foreign Companies Willing to Sign New Contracts with Iran

EghtesadOnline: Deputy Petroleum Minister for International Affairs and Trading Amir Hossein Zamaninia underlined that the foreign companies have welcomed cooperation with Iran within the framework of new oil contracts.

News ID: ۷۶۸۱۷۰

16 July 2016

"The foreign firms have welcomed purchasing oil from Iran," Zamaninia said on Friday.

According to FNA, he noted that Iran will sign its new oil contracts in the coming months.

Zamaninia said that Iran is expected to attract at least 40 to 50 billion dollars of investments annually.

He expressed hope that Iran's oil industry will be further developed once the new model of oil deals are signed in the near future.

Iran has doubled its crude oil exports since implementation of the Joint Comprehensive Plan of Action (JCPOA) which Tehran struck with world powers over its nuclear program back in 2015.

Iran is currently exporting 450,000 barrels/day of gas condensate from 230,000 b/d of the commodity under the sanctions, he added.