Following Geneva agreement, Iran's new administration is determined to reduce policy impediments with regard to foreign investment. Specifically, it plans to substantially revise contract terms for development of upstream oil and gas projects. Oil Industry Contracts Revision forum (OICR), held in Tehran on February. 22nd and 23rd, is an attempt to present the new contract structure and receive feedback from a wide range of players in the oil and gas community of Iran. The initiative will continue in London this upcoming summer, where the new terms will be presented to International Oil Companies and other interested parties.
As a main sponsor of the initiative in partnership with National Iranian Oil Company, Kardan is unveiling its own post-sanction investment vehicle: Iran Global Energy Fund (IGEF).
IGEF is a vehicle for investors seeking exposure to Iranian oil, gas and petrochemical industries. The investment strategy is being formulated in close cooperation with influential stakeholders in the industry. By bringing on board a reputable international financial institution, and planning robust investment governance mechanisms, we are going to introduce a new emerging market investment instrument.
For more information please contact Payam Afzali, VP, Corporate Finance.
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