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Tehran Chamber backs new oil contract model

TEHRAN, July 21, 2016

The Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) will extend its support to the newly-developed oil contracts model in a series of meetings, a report said.

Views by foundations such as the chamber of commerce, the Iranian Parliament and the Expediency Council must be presented in an integrated manner to the administration for consideration and inclusion in the oil contracts model, Mansour Mo'azzami, head of the energy committee at TCCIMA said, according to the Iran Daily report, which cited Shana.

Meanwhile, director of Legal Affairs of National Iranian Oil Company (NIOC) Ali Akbar Mahrokh said that the draft of the newly-devised oil contract model is being drawn up and its final version will be released in the near future.

The new model for oil contracts aims to sweeten oil and gas projects for foreign investors willing to join energy projects in a sanctions-free Iran, the report said.

Tags: Iran | Oil contracts model |

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