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Parliament & Admin Back New Model of NISOC Oil Deals

Source: Shana 11/27/2016, Location: Asia

Head of the Parliament's Energy Committee Fereidoun Hasanvand said the administration and the parliament have endorsed the new framework of oil contracts devised by the Iranian Ministry of Petroleum.

The MP, speaking following signature of a deal between the National Iranian South Oil Company (NISOC) and the Schlumberger Limited on Sunday, said the administration and the parliament, especially the energy committee of the assembly have offered their full weight on the newly-devised oil contract models of the NISOC.

He said such deals can ensure transfer of the latest technologies to the country and cause huge technical and economic developments in the country.

Hasanvand also said that generation of jobs as one of the administration's concerns will also be addressed by these new deals.

"Government authorities and the parliament have always endorsed investment in the country and have proposed many motions in this regard," the MP added.

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