Tuesday, July 11, 2017

Iran Opens Tenders for Oil Exploration

By Micah Halpern
I've Been Thinking:

Iran is opening 14 new gas and oil exploration tenders.
Iranians are hoping to entice foreign energy companies to foot the bill to discover new gas and oil sources and then partner with Iran in the profits of the new wells.

This is a very important move for Iran.

Iran wants to increase production and make themselves an even larger supplier of natural gas and oil.

Many companies from many nations have expressed interest in bidding for the rights to partner with Iran. Total from France has already signed a deal with Iran this week. Lukoil from Russian is very interested as is Maersk from Denmark.

So are Britain's BP, Austria's OMV and Russia's Gazprom. Italy's Edison and Malaysia's Petronas are also vying for the opportunity to partner with Iran.

There is no doubt that the 14 tenders will be very lucrative for the companies as well as for Iran.

The big question is if how these relationships will develop given the anti-
Western and anti-foreign involvement sentiments within Iran. If their attitude was just a stance Iran adopted in response to Western sanctions, it is all in the past because sanctions have been lifted. But if there really is an anti-Western and anti-foreign bent in Iran, then the investors could very likely lose their investments.


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