The National Iranian Oil Company announced it will soon launch a tendering open to large international companies for the exploitation of 29 oil and 21 natural gas fields. The companies interested will have to submit their bids by 19 November. Adjudication results will be announced on 7 December.
Based on the forecasts of the Ministry of Energy, the Islamic Republic counts on attracting approximately 150 billion US dollars in foreign investment over the next four years and thereby increase their production to pre-sanction levels of 4 million barrels a day by 2019 and 4.28 million barrels a day by 2020.
