Middle East Economic Survey

VOL. LIII

No 29

19-Jul-2010

IRAN

Mohaddes Calls For Revisions Of Buyback Contracts

The Director of Exploration at the National Iranian Oil Company (NIOC) Mahmoud Mohaddes has called for a revision of the existing buyback contracts, which impact the inflow of foreign direct investment (FDI) to Irans upstream oil and gas sector. In an interview with the petroleum ministrys Shana news service on 10 July, Dr Mohaddes said: The exploration sector is faced with some...