Iranian authorities have announced their intention to invite foreign companies to extract oil and gas. The work will take place in the form of joint ventures

Iran, South Pars. Workers in front of an oil refinery (Photo: AP)

According to the TASS agency , the Chairman of the Committee for the Review of Oil Agreements, Mehdi Hosseini, spoke about Tehran’s plans. According to him, the main ones for future work will be production sharing contracts with the National Iranian Oil Company. In this case, foreign partners will receive their share of the produced hydrocarbons.

Tehran emphasized that the first tenders for Iranian oil and gas fields will take place at the beginning of 2016.

As the Vedomosti newspaper previously reported, Western companies began negotiations on returning to the Iranian market in the spring and summer . Representatives of the Italian Eni, as well as the Anglo-Dutch Royal Dutch Shell, flew to Tehran. These companies assured Iran that they would pay off the remaining debts after sanctions were lifted and expressed hope for further work in the Islamic republic.

Other companies that negotiated with Iran included Shell, Total, as well as the Russian LUKOIL and Gazpromneft.

On November 21, Deputy Minister of Oil Industry of the Islamic Republic of Iran Hossein Zamaninia announced Iran's plans to increase oil production by 1 million barrels within 5-6 months. per day. The Deputy Minister said that an increase in production and supplies will occur if the OPEC quota remains unchanged. The official promised to coordinate Tehran's actions with this structure.

Iran names rules for returning foreigners to oil fields