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Iran will launch new contracts to develop oil and natural gas fields in mid-February in the country`s first such tender since the lifting of international sanctions a year ago. said Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor.
He said the plan was to hold the first tender at the end of January. but it will be held with 15 days of delay on February 15.
Twenty-nine companies have been qualified. but we would like to add more companies to the list. he added.
OPEC`s No. 3 oil producer hopes its new Iran Petroleum Contracts (IPCs). which are part of efforts to sweeten the terms offered on oil development deals. will draw foreign companies and boost output after years of under-investment.
Some industry analysts say the IPCs do not appear attractive enough to raise billions of dollars in foreign direct investment at a time of low global oil prices. especially when compared with new contracts being offered by Iraq. which have enabled the neighboring country to boost its output.
The first new-style tender has been postponed several times for unspecified reasons.
Foreign firms keen to tap Iran`s vast oil and gas reserves have so far made little inroads into the country despite the lifting of sanctions.
