NIOC to sign 2-3 contracts based on new scheme by year end

TEHRAN, Aug 27 (Shana) – Deputy Managing Director of the National Iranian Oil Company (NIOC) Gholam-Reza Manouchehri said on Saturday that by the end of this Iranian calendar year of 1395 (2016-17), more than three contracts will be signed in the new scheme of the contracts.

The NIOC top official, Gholam-Reza Manouchehri said, “If everything goes on well, by the end of the year we will sign two to three contracts based on the model. However, regarding limited time span left, by end of this year, not more than three contracts can be signed based on the new model of the oil contracts.”

He hoped that the amendment on the new model of oil contracts will be approved at the cabinet this week and naturally it will be put at the disposal of the Parliament and once finally approved, the  parliament will announce it.

He added that after approval of the framework, the tender document will be considered.