Iran to invite foreign firms to bid on oil and gas

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Iran will invite foreign companies to bid for oil and gas projects for the first time since last year’s landmark nuclear deal with world powers, the Oil Ministry said.

The ministry did not say how many projects would be involved but said they include exploration and production in oil and gas fields, with the bidding process opening on Monday.

It will be the first time Iran offers an international tender for oil and gas projects since the nuclear deal went into effect in January.

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