(MENAFN) Iran projects to set the terms of new oil deals this month that will allow foreign firms to take stakes in one of the last cheap and accessible oil and gas reserves in the world.
Iran has welcomed feedback from global oil companies on these contracts, thus executives of foreign oil companies were in Tehran in mid-June to hold negotiations with Iranian officials.
Leaders of some of the world's biggest oil corporations believe the prize of winning business in Iran is worth the effort, even as USD50 a barrel oil forces them to shift investment elsewhere.
Ultimately, Iran has a promising vision of returning to export and production levels that existed before the imposition of sanctions and bans by overhauling a sector starved of investment.
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