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News > Iran Oil Conference in London in Feb. 2016


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Iran Oil Conference in London in Feb. 2016

Iran Oil Conference in London in Feb. 2016

 Iran has organized a crucial conference to present new oil contracts to investors in London in February 2016. The global oil industry has been eagerly watching Tehran's plans for the conference as Iran, OPEC's third largest oil producer, holds the world's fourth largest oil reserves and the largest for natural gas.

Under a deal reached with six major powers in July,investment in Iranian energy sector will increase, once economic sanctions are removed. Iran has designed a new mechanism of cooperation, considered as a major improvement in former buy-back-agreements.

 

Oil major companies like France's Total or Italy's Eni have already started negotiations with relevant Iranian authorities for further cooperation.

The details of the new contracts will probably emerge in the Conference. Iran says it needs foreign know-how and technology to help develop new oil fields and improve pipeline and refinery infrastructure.


08:21 - 8/10/2015    /    Number : 361309    /    Show Count : 308



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