Five Things to Know about ‘New Era’ of Iran’s Upstream Sector

Wood Mackenzie, the energy intelligence group, has outlined five things one needs to know when it comes to the effect of the lifting of sanctions on Iran’s upstream industry, and the projects offered under the new fiscal terms of the Iran Petroleum Contract (IPC).

1. This is the beginning of a new era

The lifting of sanctions marked by Implementation Day paves the way for Iran to target a return to pre-sanctions levels of production and exports at 3.8 mb/d and 2.2 mb/d respectively. Strong support for moderate candidates in the recent legislative elections highlights the backing of President Rouhani’s economic and diplomatic reforms. This will help the country’s new fiscal regime, the IPC, to be fully implemented.

http://www.oilandgaspeople.com/news/7717/five-things-to-know-about-new-era-of-irans-upstream-sector/