Iran invites bids for 50 oil and gas projects

The National Iranian Oil Company (NIOC) has given international companies a month to submit prequalification bids for 50 oil and gas contracts.

This is the biggest opportunity for foreign firms to bid for Iranian oil projects since sanctions against the Islamic republic were relaxed in January.

The NIOC said today that a long list of qualified bidders for the projects will be announced on 7 December. The deadline for the submission of prequalification documents is 17 November 2016.

The NIOC said selection for the long list will be based on a scoring system that will take into account:

  • The company’s creditworthiness based on ratings by Moody’s, S&P and Fitch
  • The company’s present oil and gas production level
  • The company’s record of success in working in international projects
  • The company’s technical competence as an oil and gas field developer. Experience of working in Iran will account for only 5 per cent of the total capability score.

The projects listed include 32 new oil and gas fields including including South Azadegan, South Pars oil layer, Changuleh, Darquian third phase, Golshan, Ferdowsi and Jufair. A total of 18 brownfield projects are also listed including the Tang-e-Bijar and Ilam refineries.

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