Iran will invite foreign companies to bid for oil and gas projects for the first time since last year's landmark nuclear deal with world powers, the country's Ministry of Petroleum said Sunday. The ministry did not say how many projects would be involved but said they include exploration and production in oil and gas fields, with the bidding process opening on Monday. It will be the first time Iran offers an international tender for oil and gas projects since the nuclear deal went into effect in January. The ministry's website said foreign companies should submit their applications by Nov. 19 and that successful companies would be announced on Dec. 7. Iran had previously said that priority for exploration and production for foreign companies would be given to neighboring countries with which it shares border fields.
Oct-16-2016, 18:31:14 GMT