TCCIM backs new oil contract model

TEHRAN, July 20 (Shana) — Head of the energy committee of the Tehran Chamber of Commerce, Industries, Mines & Agriculture (TCCIM) Mansour Mo’azzami said the committee is planning to hold a series of meetings to present the real image of the newly-developed oil contracts model to show its support for the model.

Addressing the 23td energy committee gathering on Wednesday, Ma’azzami said all the views by foundations like the Chamber of Commerce, the Iranian Parliament and the Expediency Council must be presented in an integrated manner to the administration for consideration and inclusion in the oil contracts model.

He said the energy and environment committees of TCCIM intend to hold several sessions in a bid to support the newly oil contracts model and present the real image of the model.

Director of Legal Affairs of National Iranian Oil Company (NIOC) Ali Akbar Mahrokh said on Wednesday that the draft of the newly-devised oil contract model is being prepared and its final version will be released in the near future.

Iran is devising a new model for its oil contracts to sweeten oil and gas projects for foreign investors willing to join energy projects in a ban-free Iran.