EghtesadOnline: Oil Minister Bijan Namdar Zanganeh said on Tuesday Iran's first oil tender within the framework of Iran Petroleum Contract, the country's new model of contracts for oil and gas projects, would be completed in eight months.

EghtesadOnline: The National Iranian South Oil Company is appraising the proposals of foreign and domestic oil firms for developing four oilfields in the southern oil-rich province of Khuzestan, the company's chief executive officer said, hoping that the first deal will be signed by the yearend.

EghtesadOnline: The new model of Iran's oil contracts is clear on all grounds, but there is still some ironing out to do over the terms of collaboration with foreign companies on raising the recovery factor in oilfields, the managing director of National Iranian Oil Company said.

EghtesadOnline: The Ministry of Industries, Mining and Trade is considering the introduction of new contracts similar to Iran’s new oil deals for handing over Iranian mines to foreign investors for modernization and development.

EghtesadOnline: Transfer of technology is an indispensable part of Iran Petroleum Contract, the new model of oil contracts for developing Iran's oil and gas fields, as the country needs cutting-edge know-how and equipment to offset the natural decline in extraction from aging oil and gas reservoirs, deputy for engineering and development at the National Iranian Oil Company said.