Iran has introduced a comprehensive 10-point incentive package designed to attract greater investment in its upstream oil and gas sector, according to a report by the official IRNA news agency.
The announcement was made during the “Strategic Transformation in Iran’s Upstream Oil and Gas Sector” event held on Tuesday, with Oil Minister Mohsen Paknejad in attendance.
This initiative seeks to make Iran’s upstream contracts more attractive and competitive, with the goal of increasing crude oil production to 4.8 million barrels per day and natural gas output to 1.34 million cubic meters per day.
During the event, the National Iranian Oil Company (NIOC) also showcased over 200 investment opportunities to potential stakeholders.
Minister Paknejad emphasized that Iran is open to partnerships with both domestic and international investors.
