Bloomberg: Iran Sweetens Terms for Oil Investors Ahead of End of Sanctions

Iran will pitch more than 50 oil and natural gas projects to foreign investors at a two-day conference in Tehran starting Saturday as the Persian Gulf country prepares for the end of sanctions that have stifled development and production of its energy wealth.  

The government hopes international companies will commit at least $100 billion that Iran says it needs to boost oil-production capacity by more than 1 million barrels a day. Oil Minister Bijan Namdar Zanganeh will introduce at the same event a new type of investor contract offering better incentives than the buy-back agreements Iran offered in the past.

Iran will offer a framework for new oil deals to be negotiated project by project, rather than a uniform contract draft for all investors, Amir Hossein Zamaninia, deputy minister for commerce & international affairs, said in Tehran on Nov. 21. MORE