Tehran, YJC. Although sanctions have remained pretty much the same, a new round of talks has begun between Iran and global oil giants in London.
Iran's oil minister has said that foreign companies are
ready to get back to the Iranian oil market.
Iran has a 5-year program to increase the production of its
oil and gas condensates to 5.7 million barrels a day and the production of
natural gas to 1 billion m3.
As oil prices have dropped and the Iranian National Oil
Company’s revenue has decreased, it is seeking foreign resources to fund the
40-billion-dollar project.
On the other hand, Iran and its 6 nuclear negotiators did
not reach an agreement last week.
But giant oil companies around the world have started talks
with Iran to return to the country’s oil market.
Iran's Oil Minister Bijan Zanganeh held meetings with
officials of Shell, British Petroleum, and Total, all of which, along with some
other companies, have announced ready to make new deals with Iran.
Also, the CEO of the Russian LUkoil, which drew out of Iran 5
years ago has stated ready to restart works it was carrying out on the shared
oil field Azar.