Iranian Oil Minister Bijan Zanganeh says to expect formal contracts for oil work in his country to emerge before the end of the calendar year. Foreign companies are busy studying the possibility of signing deals to work in the Iranian sector, with ink to paper expected by March, the oil minister said. “Based on several confidential contracts, which have been signed so far, foreign companies are busy studying fields [in Iran],” Oil Minister Bijan Zanganeh was quoted by the ministry’s news website SHANA as saying. The minister said any new contracts that emerge officially would be signed before March 20, the end of the Iranian calendar year. New domestic contracts, meanwhile, envision field development plans that could boost output at the reservoirs in question from 185,000 barrels of oil per day to 260,000 bpd. Iranian oil exports have increased substantially since December, the month […]