Iran oil ministry opposes bid by foundation to enter sector
The Iranian Oil ministry is opposing a bid by one the country’s most powerful state foundations to help develop the giant South Pars gas fields.
Reportedly, the Foundation for the Disinherited is trying to negotiate a contract for later phases of the development of South Pars. However, oil experts are insisting that a deal cannot be signed with firms that have no experience in the sector.
The Foundation for the Disinherited controls the extensive holdings of the former shah, who was deposed in the 1979 revolution that brought about the creation of the Islamic republic. — (Albawaba-MEBG)