Projects subject to a new Iranian oil contract model, known as Iran Petroleum Contract (IPC), will be put up for worldwide tender by the mid-October, an Iranian energy official was quoted as saying by Tehran Times daily on Wednesday.
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Managing Director of National Iranian Oil Products Distribution Company (NIOPDC) Noureddin Shahnazi, while pointing to the rise in production capacity at West Karoun oil fields region, said the current harvest volume at Yadavaran as well as North and South Azadegan stands at 225 thousand barrels per day.
The first official tenders for oil field development are scheduled for late October with oil fields straddling the western border with Iraq among the early offers.
Kardor said foreign companies will tender for development of the major oilfields under the IPC, according to Tasnim news agency.
The vice president also added that the amount of oil Iran is extracting from the joint oil fields has reached 270,000 bpd. “We are therefore closely following the developments in the region, also in Iran”, Leunig said, adding that the company strictly follows all national and global legal regulations.
Kardor said earlier this year that only those global companies that meet his company’s standards would be eligible to play a role in Iran.
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Three contracts are expected to be signed by the end of the year which will bring in approximately $10 billion in revenue for the country, Kardor said.
