At the recent 2-day conference in Tehran on February 22 and 23 Iran outlined a new form of contract to replace the unpopular and complex buy back scheme.
Looking forward to a post-sanctions environment, Iran’s oil ministry has unveiled its new thinking in what they have termed IPC…Iran Petroleum Contract.
The logic of the thinking can best be described in four straightforward terms:
2. Competitive terms
4. Booking of reserves
Iran aims to implement the best and latest technology to extract its oil and gas reserves, and requires international oil and gas partners who …read more