Iran to name firms eligible for oil awards

Iran says it is putting the final touches on a preliminary list of foreign companies that it says are eligible to participate in its upcoming tenders to develop its oil and gas fields.

According to Press TV, Ali Kardor, the managing director of the National Iranian Oil Company (NIOC), has been quoted by the media as saying that the list will be issued within the next two weeks.

“Only those international companies that meet the standards of NIOC will be chosen,” Kardor has been quoted as saying by Reuters.

The official emphasized that there were only around 37 companies in the world that might meet Iran’s standards. That, he added, excludes American companies.

Kardor emphasized that companies would only be eligible that are registered as exploration and production or international oil companies and are also rated by Standard & Poor’s, Moody’s or Fitch credit rating agencies.

“After creating the first list of international companies, a limited tender will be held,” Reuters has further quoted him as saying.

The tenders will be based on Iran’s new oil and gas contracts which have yet to be unveiled after some amendments.

Nevertheless, Kardor emphasized that alongside the new contracts, oil fields could still be developed through the old format of buy-backs, engineering, procurement, and construction and engineering, procurement, construction and financing contracts.

SS