Iran names companies eligible for new oil & gas projects
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By Trend
The National Iranian Oil Company (NIOC) has announced a list of over two dozen international energy companies which are qualified to bid for the country’s new oil and gas projects, said the company’s message.
The list includes European giant companies such as Total, Shell,
Eni and Gazprom as well as Asian companies like CNPC, Inpex, KOGAS
and Petronas.
Most of the companies were involved in Iran’s oil industry projects
before the US-tailored sanctions were imposed against the Islamic
Republic in 2011.
The list also includes some newcomers, such as Wintershall from Germany, Maersk from Finland, DNO from Norway and CEPSA from Spain.
Iran plans to award new projects to the companies it has
qualified through a new format of oil contracts.
The new format is replacing buyback deals. Under a buyback deal,
the host government agreed to pay the contractor an agreed price
for all volumes of hydrocarbons the contractor produces.
But from now on, the NIOC will set up joint ventures for crude
oil and gas production with international companies which will be
paid with a share of the output.
Also, different stages of exploration, development and production
will be offered to contractors as an integrated package, with the
emphasis laid on enhanced and improved recovery.
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