Iran will unveil its newest oil contracts, clinched after the signing of the historic deal on its nuclear program, at a conference in Tehran, tentatively scheduled for November, the managing director of the National Iranian Oil Company (NIOC) said Friday.

Iran will unveil its newest oil contracts, clinched after the signing of the historic deal on its nuclear program, at a conference in Tehran, tentatively scheduled for November, the managing director of the National Iranian Oil Company (NIOC) said Friday.

MOSCOW (Sputnik) � Javadi said he anticipated crude sales to rise by half a million barrels a day as soon as the anti-Iran sanctions were gradually phased out and the negotiations being held with other countries were made public.

"NIOC will unveil its new oil contracts first at a Tehran conference most probably in early November," Rokneddin Javadi was quoted as saying by the Fars News Agency.

The US Energy Information Administration said in a report last month that Tehran ha? the technical capacity to drive up production by 600,000 barrels a day.

Iran reached the Joint Comprehensive Plan of Action (JCPOA) with six world powers on July 14. It provides for the termination of all anti-Iran UN Security Council resolutions, as well as US and EU restrictions on the import, transportation of and investment in Iranian oil.
A number of countries, including Western European nations that imported over a million barrels a day from Iran before the 2011-2012 sanctions, have lined up to renew oil cooperation with Iran.
In December 2014, NIOC deputy director for combined planning estimated that the new oil contracts could amount to $40 billion.
By Sputnik