Iran has said that it will announce a string of projects to boost its oil and gas sector, which has been reeling under the effects of the sanctions.
The new oil contracts will be unveiled in the upcoming conferences in Tehran and London on November 21-22 and February 22-24 respectively, according to Oil Minister Bijan Zangeneh.
Iranian authorities had previously said that the Iran Petroleum Contracts (IPC), will be launched at the London conference, and includes “dozens of contracts” worth $40bn.
Authorities later postponed the London conference from December 2015 to February 2016, so that it could be held after the removal of sanctions.
Some projects which were to be introduced in the conference include development of remaining phases of the South Pars Gas Field (a shared gas field, known as ‘North Dome’ in Qatar) as well as other gas fields located in sea and land.
The projects “will focus on the development of joint fields with neighbouring countries as well as enhancing recovery from the wells”, state-run Mehr News Agency says.
Zangeneh has also rejected reports that Iran will give concessions to the firms from certain countries saying, “To attract participation and cooperation, no one will be provided with a concession or special facility.”
