Iran, European Firm Ink Deal to Develop Southern Oilfield: Official
TEHRAN (Tasnim) – Iran has signed an initial contract with a Norwegian-Austrian company to develop its Esfandiar oilfield, in the southern province of Bushehr, the CEO of the Iranian Offshore Oil Company (IOOC) announced.
“The development of the Esfandiar oilfield is one of the priorities of the company,” Saeed Hafezi said on Saturday.
“We are in talks with a Norwegian-Austrian company for the development of the joint oilfield,” he said, adding that of course, an initial contract has been signed between the two sides.
Hafezi went on to say that the IOOC is waiting for Iran’s new oil contract model to finalize the deal to develop the Esfandiar oilfield.
The official further pointed to the development of other Iranian oilfields, saying that the IOOC has held negotiations with Total S.A., a French company and one of the six supermajor oil companies in the world, as well as Eni S.p.A., an Italian multinational oil and gas company headquartered in Rome.
Earlier on Wednesday, the petroleum products pricing manager at National Iranian Oil Company (NIOC) said Iran is set to develop a new oil contract model in an attempt to attract foreign investors.
"Iran is going to apply a new version of oil contract model in order to make it more attractive for foreign investors, with similar terms to a PSA (production sharing agreement)," Shahrouz Abolhosseini said during a business meeting in the South Korean capital.
The promising prospect of trade with Iran after the conclusion of nuclear talks between Tehran and world powers has prompted many countries to explore the market potential in the Middle East nation.
Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14 reached a conclusion on a lasting nuclear agreement that would terminate all sanctions imposed on Tehran over its nuclear energy program after coming into force.
