Iran to adopt new contract for investors
The country will present what it hopes is a more investor-friendly contractual regime, but international oil companies are still wary of close engagement with the country
Iran's economy depends on attracting international oil companies and the government is trying to put in place something better than what is on offer in neighbouring Iraq. The terms will be presented at a conference in Tehran 28-29 November - not in London as originally planned. A senior former Iranian oil policymaker tells PE that the new model contract will explicitly not be framed as a 'buyback mark II', alluding to the unloved service contract model introduced in the late 1990s which failed to convince IOCs. "The new contracts are designed to optimise what the IOCs do best, by giving them incentives at various levels, and offering equity participation once production gets started along w
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
