Head of the committee Karim Zobeidi said the body has decided on the shortlist of the projects' developers by reviewing their studies and proposals for carrying out the projects.

Zobeidi noted that the outcome of the body's deliberations is not necessarily NIOC's final decision in this regard and the company will take into account several other factors for reaching a final decision regarding selection of developers for its projects.

He also expressed optimism that the contracts for developing the mentioned oil projects will be signed before March 2018.