Iran Hopes to Sign $10-15 bn Worth of Petroleum Contracts

Iran is confident of signing $10-15 billion worth of new petroleum contracts in the coming months, managing director National Iranian Oil Company (NIOC) Rokneddin Javadi told Shana new agency.

“Signing does not mean attraction of (financial) resources,” he said, adding that holding of tender offers and the process of revision, completion and drafting of the contracts models are time consuming trends.

Meanwhile, a deputy head of NIOC said the new venue for holding Iran Petroleum Contract (IPC) conference will be announced in the near future.

Ali Kardor, who is NIOC deputy chief for investment, told Shana that the conference will be held in a foreign country.

The conference was to be held in London in February but was cancelled due to visa issues.

"NIOC is currently finalizing decisions on where the event will be held," Kardor said.