Iran: $30 Billion in Oil Deals

Posted December 2, 2015 at 5:56am

Bloomberg reports that “Iran is targeting about $30 billion in investment by offering 70 oil and natural gas projects to international companies as the Persian Gulf country anticipates the lifting of economic sanctions.”  

“Iranian officials presented the projects at a two-day conference in Tehran as part of an effort to attract more than $100 billion to revive the energy and petrochemicals industries and generate much-needed government income. Oil Minister Bijan Namdar Zanganeh introduced them along with a new type of investor contract offering better incentives than the buy-back agreements Iran offered in the past. The work covers 52 production and 18 exploration projects, both onshore and in the Gulf and Caspian Sea.”