Iran has devised a new contract model � designed to benefit both the�National Iranian Oil Company�and international contractors � that it hopes will bring in billions of dollars in investments.

Unlike some other countries, Iran's oil rights can't be transferred to international oil companies. Iran has been using a unique model of buy-back contracts designed to attract international companies to invest in its oil and gas industry, but the model has not been very successful due to its limitations. So to gain access to advanced technology and international investments, Iran will soon unveil a�new plan.

The new Iran Petroleum Contract (IPC)�is to be presented officially in Tehran�and�London�the week of Nov. 28-29. However, Oil Ministry officials have already explained the plan's details to Iranian MPs, experts, scholars and even the public through interviews and speeches. Mehdi Hosseini, secretary of the Iranian oil contracts revision committee, has�held almost 80 meetings�in parliament on the matter. Moreover, President Hassan Rouhani's administration formally�adopted�the contract in late September, and Vice President Es�haq Jahangiri�announced its details�in late October.
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This article was written by�Farshad Kashani for Al-Monitor on Nov. 25, 2015. Farshad Kashani is an international law expert and international legal affairs analyst. He was�also the Editor In-Chief of�Iranian Diplomacy. Farshad Kashani is currently�writing a book about the P5+1 and Iran's interpretation of the Non-Proliferation�Treaty (NPT) and its legal impacts on the regime's future.