Monday 31 August 2015

Iran oil contracts model to be finalised in weeks - minister | Reuters

Iran oil contracts model to be finalised in weeks - minister | Reuters:



"Iran expects to finalise the wording for a new model for international oil contracts in the next three weeks, the oil minister said on Monday, as Tehran seeks to boost recovery from its fields with the help of foreign companies.



The ministry is expected to present the new oil contracts to investors at a conference in London in December, ahead of a likely lifting of international sanctions in 2016.



"Iran has put together a new model for oil contacts that allows access to regional and international markets and paves the way for long-term strategic cooperation with major companies," Oil Minister Bijan Zanganeh was quoted as saying by the Shana news agency."



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