The Iran Project

Iran to present $40billion oil, gas projects in London conference

TEHRAN (ISNA)- Iran plans to introduce dozens of oil projects worth 40 billion dollars in 2015 London Conference in February through unveiling a new contract known as Iran Petroleum Contract (IPC) in the event.

“Some 50 projects worth 40 billion dollars will be introduced in London Conference,” said Moshtaghali Gohari, Deputy Head of Integrated Planning Department of National Iranian Oil Company (NIOC).

Some projects which are to be introduced in the conference include development of remaining phases of South Pars Gas Field as well as other gas fields located in sea and lands. It would also show some projects on development and explorations of new fields.

The conference aims to provide multinationals with opportunities for development of oil and gas fields.

Mehdi Hosseini, Head of the Oil Contracts Revision Committee has already said, “We want to provide for all the companies to participate and we know they will have difficulties before Nov. 24.”

The London conference will take place in late February 2015.

Hosseini said Iran’s new contract, known as the Iran Petroleum Contract (IPC) would be a longer duration that the previous “buyback” contract. Iran will offer many projects, a mix of exploration, green and brown fields, he added.



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