News ID: 3834551 -

Iran to invite oil, gas exploration tenders

TEHRAN, Nov. 26 (MNA) – Oil Minister Zanganeh has expounded on details and conditions of inking new oil and gas exploration contracts in the post-JCPOA era.

In time with putting several developmental oil projects out to tenders, a new round of oil and gas exploration activities will soon kick off by inviting new international tender. 

Bijan Zanganeh, while describing new plans to hold tenders in the industry during the post-JCPOA era, said "following developmental activities in the Iranian oil and gas fields, the next priority will be inviting tenders for exploratory project." 

"Areas on which exploratory studies have not been carried out yet will be assigned to willing companies," said the official adding "in the new model for exploration activities in the country, development of fields will take place once the exploratory process is over." 

Zanganeh emphasized that the amount of bonus for exploration activities will be decided upon and announced while signing the contract in order to clarify details of the task and facilitate completion of oil and gas exploration projects in the country. 

With the new order on exploration activities in Iran in the new area emerged after the Joint Comprehensive Plan of Action (JCPOA) was implemented, international tenders are expected to be invited for 13 new oil and gas blocks in order to attract investment and partnership of the world's oil giants. 

Overall in the post-sanction period, in addition to exploration and development contracts, Iran intends to make a call for tender submissions for a total of 29 oil fields including 21 onshore and 8 offshore ones.