He said Iran handed a letter to OPEC member states to voice its readiness for return to world market immediately after the lifting of sanctions.
“For increasing production to the level we used to supply and returning to the market we do not need permission from anyone,” he added.
He also touched on his recent meetings with CEOs of oil giants on the sidelines of the 167th ministerial meeting of the Organization of the Petroleum Exporting Countries, saying: “Most companies were willing to return to Iran to operate oil and gas projects in the country.”
IPC is replacing buyback deals which are no longer attractive to foreign companies.
But under the IPC, National Iranian Oil Company (NIOC) will set up joint ventures for crude oil and gas production with international companies which will be paid with a share of the output.
Your Comment