Iran and Field Production

: Unlike those contracts, which merely paid a set fee for the delivery of a project, the new agreements could give investors some share of a field production and allow companies to book more reserves on their balance sheet, according to Business Week. Such arrangements would probably make Iran commercially more attractive than regional competitors for international investment including Iraq and Algeria. Foreign oil executives who have reviewed partial drafts of the new terms, called the Iranian Petroleum Contract, said they’re more generous than the types of deals used in the 1990s and 2000s. The executives asked not to be named because Iran has yet to announce the new contract and terms could still change. Iran sees the return of foreign firms as a key goal from a potential nuclear deal with the US and the fact the government has started circulating drafts of the terms suggests Iran is expecting to seal an atomic deal. By year-end Tehran could propose a new type of contract In simple terms, the message from Iran is that if the sanctions are lifted, in return Iran will offer improved contractual terms to make it easier for international oil companies to tap into its lucrative oil and gas reserves, says Amir Kordvani, a Dubai-based lawyer at Clyde & Co, a firm specialising in the natural resources industry. (news.financializer.com). As reported in the news.