Iran to grant petroleum companies advantages

Iran offers beneficial service contracts to petroleum companies, Trend cites Iranian Petroleum Minister Bijan Namdar Zangeneh.

The benefits will be granted for projects realized in the Caspian Sea and the South Pars Field project. South Pars development was split into 29 phases and contained about 14 trillion cubic meters of gas (about 8% of world gas deposits). The field contains about 16 billion barrels of condensate.