The first gas field development contract was awarded to Bakhtar Holding

According to Energy Press, Hassan Abbaszadeh, CEO of the National Iranian Petrochemical Company, in response to a question about the fate of upstream memorandums of understanding and their conversion into contracts, said: Some of these memorandums are being converted into contracts. For example, the contract for the Bakhtar Complex has been approved by the National Oil Company’s board of directors and is being finalized. Regarding the signing of memorandums of understanding related to some fields, he told several applicants: It is true that the memorandum is not binding, but if the investor is serious and provides the necessary conditions, it will be converted into a contract, and otherwise, another investor will be replaced. These memorandums usually include a year for studies.