Iran could see new oil deals by July

31 May 2017   Iran

By July, Iran could sign off on its first post-sanctions contract tied to the development of one of its largest oil fields, the country’s oil minister said. A report from Shana , the official news agency of the Iranian Oil Ministry, stated that Petroleum Minister Bijan Zangeneh “will hopefully” sign the first oil deal developed under post-sanctions contractual terms before Iranian President Hassan Rouhani ‘s first term ends in July. The contract would be tied to the Azadegan oil field, one of Iran’s largest, and “the invitation to tender for development … has started already,” the report read. According to Tehran, the border Azadegan complex holds around 6 billion barrels of recoverable oil reserves. China National Petroleum Corp was […]

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