http://www.livemint.com/Politics/J2TGPFxdqIGtnbOJnF48lK/Oil-majors-queue-in-Iran-as-30-billion-of-projects-in-play.html
The country plans to boost total oil output capacity to 5.7 million barrels a day by the end of 2020, with the help of new production contributed through new energy contact models, Roknoddin Javadi, managing director of state-run National Iranian Oil Co., said at the event. The figure includes both crude and condensate output, he said. Iran pumped 2.7 million barrels a day in October, according to data compiled by Bloomberg.
Iran could sign its first development contract in March or April, Kardor said. The new 20-year energy contracts framework is being introduced to investors at the Tehran conference, he said. “The next step is for foreign vendors to make a technical assessment and choose a domestic partner.”
International companies will need to find a local partner for exploration and production projects, with more than half of engineering and construction and equipment manufacture done by Iranian firms, Javadi said.
The country is offering 52 oil and gas development projects in addition to 18 exploration blocks, according to a brochure from the Iranian oil ministry. That includes projects at 29 new and currently producing oilfields and 23 gas developments. Onshore fields make up 34 of the projects.
Iran’s oil exports fell to an average 1.4 million barrels a day last year from 2.6 million in 2011 due to the sanctions on the country, US Energy Information Administration data show. US sanctions on Iran limit it to selling about 1 million barrels of crude a day to China, India, Japan, South Korea, Turkey and Taiwan, with additional purchases of condensate, a light oil liquid found in gas deposits, also allowed
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