Iran in talks to sign ten oil and gas contracts: minister

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Iran’s government is in talks with both domestic and international companies to sign ten oil and natural gas contracts by next March, Oil Minister Bijan Namdar Zanganeh was quoted as saying in media reports.

German-based Wintershall, a leading energy company, is among those considering developments for as many as three projects in Iran, Zanganeh said, according to a report in Iran Daily, which cited UPI.

“This is while last year this time we had not made such progress in the talks,” Zanganeh said.

In January, the Iranian Oil Ministry published a list of 29 foreign oil and gas companies eligible to take part in any upcoming tenders for exploration and production, the report said.

“In order to prepare for possible further activities in the region, Wintershall signed a memorandum of understanding last year with National Iranian Oil Company about a potential future cooperation,” it said. “Details of the memorandum are subject to confidentiality.”

Russia is also in negotiations to buy around 100,000 barrels of oil per day from Iran in a contract that will enter into force as early as September, said the deputy oil minister for International Affairs in Iran.

Source: Trade Arabia