TEHRAN: Iran expects by 2017 to raise between $10 billion to $15 billion under the new Iran Petroleum Contract (IPC) system, Deputy Oil Minister Rokneddin Javadi said Tuesday.
According to the Shana news agency, citing Javadi, it is necessary to ensure financing of the contracts as “signing does not mean attraction of (financial) resources.”
According to the Shargh newspaper, a new model of the new oil contracts, presented to the Iran’s Oil Ministry last week, requires capital attraction for the Iranian oil industry under the current oil prices. Some of the basic principles of this model will be presented at the conference, which will be held on November 27-28 in Tehran.
