Important news last week -- from a place that's quickly becoming the world's focus for high-impact oil and gas projects.
That's Iran. Where government officials said they are on the verge of revolutionizing the country's petroleum sector. Which could provide big profit opportunities for foreign investors.
Iran's deputy oil minister for commerce and international affairs, Hossein Zamaninia, told Reuters that the country has already identified 50 oil and gas projects it will offer for bids. With the government pegging the value of these properties at $185 billion.
Related: Oil Price Rout Set To Inflict Real Pain On Russia
And officials are hoping to get these fields licensed out soon. With Zamaninia saying that the government plans to offer all of the blocks over the next five years.
Perhaps most importantly, Iranian officials say they have designed a new petroleum contract structure for international investors. Which they are calling the "integrated petroleum contract" or IPC.
Related: Busting The Myth Of A ‘Green Europe’
Officials said that the IPCs will last for a term of 20 to 25 years. A substantial improvement over the older, shorter-term contracts -- which have been a major stumbling point for the world's oil and gas companies.
To read more at: http://oilprice.com/Energy/Crude-Oil/185-Billion-In-New-Oil-and-Gas-Projects-Up-For-Grabs.html
That's Iran. Where government officials said they are on the verge of revolutionizing the country's petroleum sector. Which could provide big profit opportunities for foreign investors.
Iran's deputy oil minister for commerce and international affairs, Hossein Zamaninia, told Reuters that the country has already identified 50 oil and gas projects it will offer for bids. With the government pegging the value of these properties at $185 billion.
Related: Oil Price Rout Set To Inflict Real Pain On Russia
And officials are hoping to get these fields licensed out soon. With Zamaninia saying that the government plans to offer all of the blocks over the next five years.
Perhaps most importantly, Iranian officials say they have designed a new petroleum contract structure for international investors. Which they are calling the "integrated petroleum contract" or IPC.
Related: Busting The Myth Of A ‘Green Europe’
Officials said that the IPCs will last for a term of 20 to 25 years. A substantial improvement over the older, shorter-term contracts -- which have been a major stumbling point for the world's oil and gas companies.
To read more at: http://oilprice.com/Energy/Crude-Oil/185-Billion-In-New-Oil-and-Gas-Projects-Up-For-Grabs.html
No comments:
Post a Comment