Iran is on its way to reaching its production goals for the 2020s with the start of operations at oil fields under a new contract model, the government said. The official Islamic Republic News Agency reports contracts were signed with four domestic oil companies to enhance recovery from oil fields in Iran. According to IRNA, these are the first contracts signed under a new contract model. The report offered few specifics about the new terms other than to say it guarantees an increase in the recovery factor from domestic oil fields. “In its third draft, [the government] considered the concerns of the critics and sympathizers of the establishment; and the board on conformity declared the new oil contract […]