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Fresh Oil Investment Contract to Be Set by July

Fresh Oil Investment Contract to Be Set by July

TEHRAN (NIOC) _ Iran’s new oil industry investment contract for international oil corporations will be ready by July, Iranian Deputy Oil Minister, Roknoddin Javadi said on Friday.


“The new contracts will be ready in June, July ... We welcome investors from all countries,” Javadi stated.

Iran aims to sweeten the terms it offers on oil development contracts to attract foreign investors deterred by years of sanctions.

“Hopefully we will have oil tenders with new oil contracts in July… Iran’s doors are open to all investors.”

“Iran’s oil exports are expected to increase in the coming days to 2.2 million barrels per day (bpd),” Javadi said.

The country’s output has risen to 3.7 million bpd.

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