Managing director of Offshore Installations Engineering and Construction Company, Faramarz Qadiri, told Petroenergy Information Network that in buyback contracts, the contractor only tries to achieve its promised production ceiling, adding, “Updating technology in oil and gas fields requires constant presence of contractor in the field.” He noted that international companies are more interested in partnership contracts and added that buyback contracts should be changed to provide international contractors with more motivation for taking part in Irans oil industry projects. “If a ceiling cost is not stipulated in the project, contractor companies will make no effort for implementing projects in an economic way,” he said. The official added that when a factor such as international oil price hike is not controlled by National Iranian Oil Company or contractor, the two sides can reach temporary arrangements to increase cost, but under normal conditions, specifying a ceiling in buyback contracts is of high importance.