Iran will begin taking applications on Monday (October 17, 2016) for an unspecified number of energy projects, iranian Shana reported on Sunday, as the country moves to launch exploration and production contracts after the lifting of sanctions.
NIOC wants to sign new development contracts with foreign and domestic companies during the current Iranian calendar year, which runs through March, Mehr News Agency reported citing Ali Kardor, a deputy oil minister and NIOC managing director.
State-run National Iranian Oil Company (NIOC) said «reputable and eligible exploration & production (E&P) companies» should fill the applications for upstream oil and gas projects which will be made available as of October 17th 2016 on its website www.nioc.ir.
Interested companies will have until November 19 to submit their qualifications, and the government will publish a list of eligible bidders on December 7, 2016, at www.nioc.ir.
The announcement marks an acceleration in Iran’s effort to rejuvenate its energy industry since economic sanctions were eased in January 2016.
OPEC’s third-largest producer is seeking to attract investors with a revised oil investment contract to boost output at fields it shut when exports were restricted. The country wants to attract more than $100 billion in investment to increase its oil production by one million barrels a day by the start of the next decade.
