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All tagged IPC
◢ Russian news agency TASS is reporting that Zarubezhneft, a Russian state-owned oil company, has signed two major contracts with the National Iranian Oil Company (NIOC).
◢ The agreements will see Zarubezhneft exploit the Aban and Western Paydar oil fields in a consortium with Dana Energy, an private sector Iranian oil services company.
◢ On Monday, Total will sign a long-awaited USD 5 billion deal to develop Iran's South Pars gas field, becoming the first international oil company to commit to a post-sanctions investment.
◢ The Total deal indicates rising confidence that political and banking challenges can be addressed, and the contract signing will likely buoy investor confidence across sectors.
◢ A preliminary agreement between OMV and Dana Energy heralds the push for privatization in Iran's oil and gas sector
◢ While the majority of contracts have been signed with state-owned oil firms, the new IPC framework enforces structures and management practices that support privatization
