Buyback deals are the contracts that were concluded in particular times and as a result of some urgencies and limitations. So far, twenty buyback contracts amounting to 30 billion dollars have been concluded in the upstream oil industries, said chairman of the Energy Commission of the Majlis, Kamal Daneshyar on Tuesday.
“However, many oil experts including myself are firmly of the opinion that the era of buyback contracts is over, new contracts should be taken into account to meet the requirements of the present times”, noted the lawmaker adding that, in this way, national interests would be safeguarded and also, exploitation of the oil reservoirs would be carried out in a rational manner.
Elsewhere in his remarks, Daneshyar stressed that delegation of full authority to the contractors would result in the fact that the foreign companies refrain from transferring related technologies to the country and make their purchases from abroad which would lead to the flight of a great deal of hard currency from the country.
Also, in another development Hassan Moradi, a member of the Energy Commission of the Majlis told the news agency’s economic correspondents that the buyback oil contracts should be improved and changed in line with the short-term and long-term interests of the country.
“I believe that
It should be noted that the buyback oil contracts do not fully guarantee our national interest, the member of the Energy Commission of the Majlis said adding that, “Another main issue is the fact that in exploiting its joint oil fields, Iran should make use of the expertise of other countries in this regard however, in concluding the oil contracts Iran could and should follow the other countries’ experiences”.
RA/MA
END
MNA
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