Cabinet ministers to ratify new oil contracts models

EghtesadOnline: Petroleum Minister Bijan Zangeneh said here on Monday that the cabinet members are scheduled to approve of new models of oil contracts in the next two days.

News ID: ۷۶۸۶۶۴

02 August 2016

Zangeneh made the remarks on the sidelines of a ceremony on the occasion of the 50th anniversary of foundation of National Iranian Gas Company (NIGC).

Once the contracts are ratified, he said, the executive phases of the contracts would be finalized.

According to IRNA, petroleum minister reiterated that in the first round of the international oil project tenders, several plans would not be announced and they would be introduced gradually.

President Hassan Rouhani took part Monday in a ceremony on the occasion of the 50th anniversary of foundation of NIGC.

National Iranian Gas Company was established in 1965.

Today's session was aimed at presenting the capabilities of gas industry in the international and national arenas and the important role it has played in national economy. The role of gas in improving the environment and lifestyle in Iran during the past 50 years was also examined.