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Iran to sign 15 oil contracts with oil giants: Iran oil official

Iran’s Deputy Oil Minister for International Affairs said Iran was currently negotiating with more than 15 companies from Europe, Russia and Asia exploration, development and production of oil.

Iran to sign 15 oil contracts with oil giants: Iran oil official
(Friday, October 6, 2017) 19:17
Speaking to CNBC, Amir Hossein Zamaninia said, 'These are not overambitious figures and expectations; our policy is to be able to manage and finalize at least 10 contracts by the end of the Iranian year (March 21, 2018).'

Iran has already signed 'memorandums of understanding' (investment intentions) for 28 different projects with companies including Total, Eni, Shell, Russian firms Rosneft and Lukoil, and China's Sinopec and China National Petroleum (CNPC), among others, CNBC quoted Zamani-Nia.

US President Donald Trump has repeatedly criticized and threatened to terminate the Iran Nuclear Deal with G5+1 (China, France, Britain, Russia, the US and Germany); US withdrawal from the Deal, if passed in the Congress, could place under renewed sanctions, affecting Iran's international business contracts, including oil and gas ones.

Iran's Supreme Leader Ayatollah Ali Khamenei said on Wednesday that Tehran would stick to the Deal, officially known as the Joint Comprehensive Plan o Action (JCPOA), with world powers as long as the other signatories respected it; but if the US tore it up, Iran would 'shred it'.

Total's chairman and chief executive Patrick Pouyanne said on Wednesday that Total would try to stay committed to its deal with Iran, even if the US quit the deal and re-impose sanctions on Iran.
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