Iran starts preliminary talks on oil field development with energy giants

Tehran is opening up the development of six of its oil fields to foreign investors, the ISNA news outlet reported.

MOSCOW (Sputnik) — Iran has started preliminary negotiations with Total, Eni and Saipem European oil companies considering their participation in the development of the Gulf oil fields, Saeed Hafezi, the executive director of the Iranian Offshore Oil Company, said Sunday.

On Friday, Managing Director of the National Iranian Oil Company Rokneddin Javadi said that Iran would unveil its new oil contracts with international investors, clinched after the signing of the historic deal on its nuclear program, at a conference in Tehran in November.

According to Hafezi, Tehran will make the participation in development of six oil fields available to foreign investors, the ISNA news outlet reported.

According to the media, Hafezi said that Iran also plans to discuss the gas production at the Salman gas field with the United Arab Emirates and is already in talks with a Norwegian-Austrian company considering the development of the Esfandiar oil field.

Hafezi noted that Iran has not conducted negotiations with any US companies.

Iran and the P5+1 group comprising Russia, the United States, China, the United Kingdom, France and Germany signed a historic deal to guarantee the peaceful nature of Tehran’s nuclear activities in exchange for sanctions relief on July 14.

By Sputnik News