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Iran Discloses Giants Eligible for New Oil Plans
A list of over two dozen international energy firms has been publicized by National Iranian Oil Company (NIOC) in which there has been named qualified companies to bid for the countrys new oil and gas projects.

The list included European giants such as Total, Shell, Eni and Gazprom as well as Asian players like CNPC, Inpex, KOGAS and Petronas.
Most of the companies were involved in Iran’s oil industry projects before the US-tailored sanctions were imposed against the country in 2011.

Some major newcomers, as listed by the NIOC, were Wintershall from Germany, Maersk from Finland, DNO from Norway and CEPSA from Spain.
Iran plans to award new projects to the companies it has qualified through a new format of oil sector contracts.

The new format is replacing buyback deals. Under a buyback deal, the host government agreed to pay the contractor an agreed price for all volumes of hydrocarbons the contractor produces.

But from now on, the NIOC will set up joint ventures for crude oil and gas production with international companies which will be paid with a share of the output.

Also, different stages of exploration, development and production will be offered to contractors as an integrated package, with the emphasis laid on enhanced and improved recovery.

About NIOC

Since 1951, National Iranian Oil Company (NIOC) has been directing and making policies for exploration, drilling, production, research and development, refining, distribution and export of oil, gas, petroleum products.
NIOC, with a vast amount of oil and gas resources, is one of the world’s largest oil companies. At the present time, it is estimated that the company holds 156.53 billion barrels of liquid hydrocarbons and 33.79 trillion cubic meters of natural gas.


Origine : Communiqué National Iranian Oil Company

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