The Iranian government is revamping its oil and gas
(O&G) concessions to lure foreign developers ahead of the
anticipated lifting of sanctions next year.
Some query if the changes are enough to attract
sufficient foreign debt and equity to see the Middle
East’s second largest economy fully capitalise on
its gas and crude oil reserves – the
world’s second and fourth largest,
The buyback is one of the few examples of foreign
investment reform pursued in the context of the joint comprehensive plan of action (JCPOA);
which removes almost all EU and US financial sanctions against
the country in exchange for Iran significantly curbing its
For Tehran, one of the major benefits to flow from the JCPOA
would be its ability to sell significantly more oil abroad.
Before the first sanctions were put in place in 1979, Iran
exported 6.66 million barrels a day; according...