13 Sep 2015
Iranian oil and gas contracts
Iran is highly interested in attracting foreign investors to renovate its oil and gas industries, as well as increasing its production and oil and gas exports. Western sanctions against Iran have not only affected the upstream oil industries but also downstream industries like petrochemicals.
Given the recent announcement under the Joint Comprehensive Plan of Action ("JCPOA") now agreed between China, France, Germany, Russia, UK, US and Iran, this raises the realistic prospect that at some point Iran may be set to re-join the international oil and gas industry. We now consider the history of Iranian oil and gas contracts with a view to what future contracts could entail in the event that Western Sanctions are lifted.