185 Billion Reasons Why The US Agreed To Nuclear Deal With Iran

ZeroHedge

Many have questioned just why President Obama was so keen to get the Iran nuclear deal done – apparently with almost no real concessions – in the face of allies home and abroad deriding the agreement. Well, if one were so inclined, OilPrice.com explains that Iran’s deputy oil minister for commerce and international affairs, Hossein Zamaninia, told Reuters that the country has already identified 50 oil and gas projects it will offer for bids – with the government pegging the value of these properties at $185 billion…

Submitted by Dave Forest via OilPrice.com,

 

Important news last week — from a place that’s quickly becoming the world’s focus for high-impact oil and gas projects.

That’s Iran. Where government officials said they are on the verge of revolutionizing the country’s petroleum sector. Which could provide big profit opportunities for foreign investors.

Iran’s deputy oil minister for commerce and international affairs, Hossein Zamaninia, told Reuters that the country has already identified 50 oil and gas projects it will offer for bids. With the government pegging the value of these properties at $185 billion.

And officials are hoping to get these fields licensed out soon. With Zamaninia saying that the government plans to offer all of the blocks over the next five years.

Perhaps most importantly, Iranian officials say they have designed a new petroleum contract structure for international investors. Which they are calling the “integrated petroleum contract” or IPC.

Officials said that the IPCs will last for a term of 20 to 25 years. A substantial improvement over the older, shorter-term contracts — which have been a major stumbling point for the world’s oil and gas companies.

Few other details on the IPC structure have yet been provided. But the government noted that the new contracts will address “some of the deficiencies of the old buyback contract”.

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http://www.zerohedge.com/news/2015-07-27/185-billion-reasons-why-us-agreed-nuclear-deal-iran