The National Iranian Oil Co. (NIOC) has released a list of 29 foreign oil and gas firms which have been pre-qualified for its upcoming upstream projects tender round.
NIOC is planning to put to a round of tenders several upstream oil and gas projects and has invited these 29 companies to take part in the bids.
The companies are from countries including Germany, France, Italy, Norway, Malaysia, Russia, Austria, Thailand, Japan, Poland, the Netherlands, the UK, Spain, and China.
According to NIOC, most of the companies were involved in Iran’s oil industry projects before sanctions were imposed against the country in 2011.
Some major newcomers, as listed by the NIOC, were Wintershall from Germany, Maersk from Finland, DNO from Norway and CEPSA from Spain.
Iran plans to award new projects to the companies it has qualified through a new format of oil sector contracts.
The new format is replacing buyback deals. Under a buyback deal, the host government agreed to pay the contractor an agreed price for all volumes of hydrocarbons the contractor produces.
But from now on, the 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.
Also, different stages of exploration, development and production will be offered to contractors as an integrated package, with the emphasis laid on enhanced and improved recovery.
The firms are: