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  • Expert: IRGC may object to having foreign companies revenue from Iran’s oil and gas

    Trend - 09/06/2013

    IRGC (Islamic Revolutionary Guards) may object to any type of arrangement that entails ownership of the oil and gas fields or their revenues by a foreign company, professor of economics at U.S. Northeastern University, Kamran Dadkhah told Trend.

    He was commenting on the possibility of foreign companies coming back to Iran, for investing in country’s oil and gas fields.

    “International companies would like to invest in the development of oil fields if they can (at the least) partially own the field and its output. Currently Iranian contracts are based on buy-back arrangement. That is, after the company completes the project and develops the field, the Iranian government takes over and owns the project,” Dadkhah said.