Iran Scraps London Contract Conference

Iran has cancelled the conference due to be in London in February which was dedicated to the small print of of its newly designed oil and gas agreements, called the Iran Petroleum Contract.

Ali Kardour the deputy head of the National Iranian Oil Company told local weekly Seda that the UK embassy in Tehran was ready to issue visas for Iranian officials, but some representatives of Iranian companies also wanted to take part and their applications were not successful.

A source in Iran's oil ministry confirmed the cancellation of conference. He told NGE that Iran is scheduling a conference in another European country, but no conclusion has been achieved over the issue.

Iran unveiled the legal generalities of Iran Petroleum Contract (IPC) last November, offering 50 upstream oil and gas projects for foreigners.

Kardour said that Iran was preparing to announce tenders based on IPC contracts in May and the conference for introducing the details of the new contract would be held before this time.

Iran desk