The Iranian government will approve a new model of oil contract,called the Iran Petroleum Contract (IPC), the Iranian oil minister, Bijan Namdar Zanganeh, said.
The IPC will increase the attractiveness of Iranian oil projects for foreign investors, because they offer exploration, development and production of fields in an integrated package, Trend reports.
The new contacts will transfer new technology to Iran, because Iranian experts will take part in the projects alongside the foreign companies to become familiar with the technologies.
"The new model contract will be introduced to foreign investors at conferences in Tehran and London," Zanganeh said, adding that the value of these contracts may exceed $100 billion.
