A list of 29 international companies that qualified to participate in tenders for Iran's oil and gas upstream projects was announced by the National Iranian Oil Company (NIOC) on Monday.
The NIOC list included prominent international oil and gas companies such as CEPSA Spain, China National Petroleum Corporation (CNPC), Eni, Gazprom, Lukoil, OMV, Petronas, Shell and Total.
Iran aims to revive its oil and gas sectors in the aftermath of sanctions relief following the nuclear deal between Iran and P5 +1 countries signed in July last year.
The new projects will be awarded on the basis of Iran’s new oil contracting model, which was approved by the Iranian cabinet in August and endorsed by Parliament in September.
The new model was devised to encourage participation from international oil companies to address gaps in the local Iranian market and acquire advanced technologies to improve and maintain recovery in existing fields, drilling and related services.
By Dilara Zengin
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