Iran Plans to Sign Oil Contracts Worth Up to $15Bln - Deputy Oil Minister

© AP Photo / Vahid Salemi, FileIn this Dec. 22, 2014 file photo, an Iranian oil worker makes his way through Tehran's oil refinery south of the capital Tehran, Iran.
In this Dec. 22, 2014 file photo, an Iranian oil worker makes his way through Tehran's oil refinery south of the capital Tehran, Iran. - Sputnik International
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Iran expects by 2017 to raise between $10 billion to $15 billion under the new Iran Petroleum Contract (IPC) system, Deputy Oil Minister Rokneddin Javadi said Tuesday.

Malta-flagged Iranian crude oil supertanker Delvar is seen anchored off Singapore in this March 1, 2012 file photo - Sputnik International
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MOSCOW (Sputnik) — According to the Shana news agency, citing Javadi, it is necessary to ensure financing of the contracts as "signing does not mean attraction of (financial) resources."

According to the Shargh newspaper, a new model of the new oil contracts, presented to the Iran's Oil Ministry last week, requires capital attraction for the Iranian oil industry under the current oil prices.

Some of the basic principles of this model will be presented at the conference, which will be held on November 27-28 in Tehran.

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