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Iran to offer oil projects to int'l corporations soon: official

Xinhua, December 27, 2016 Adjust font size:

Iran is planning to offer at least 10 new contracts for the development of oil and gas projects to international energy companies in the near future, Press TV reported on Monday, quoting an Iranian energy official as saying.

Iran's oil projects are attractive to global investors given the low risks as well as the low costs, said Gholam-Reza Manouchehri, the deputy for development and engineering affairs of the National Iranian Oil Company (NIOC).

Since January when anti-Iran sanctions were removed, some 12 contracts have been awarded to international companies, Manouchehri said, adding that 10 other projects are ready to be awarded in near future.

Among major contracts Iran signed with the leading energy companies were the development of Phase 11 of the country's South Pars gas field awarded to a consortium led by France's Total in November.

A memorandum of understanding (MoU) was also signed with the Royal Dutch Shell, earlier this month, to conduct studies on Iran's Azadegan, Yadavaran and Kish oilfields. Endit