TEHRAN (Mehr News Agency) – Oilfields located on the Oman Sea or on any land except in Khuzestan, Kohkiloye, Ilam, and Bushehr provinces would be handed over to their explores based on an exploration and development plan, Mehdi Mir Moezzi managing director of National Iranian Oil Company (NIOC) said here Friday.

According to a new legislation, if the process proves economical, NIOC has to start talks with the explorers, Mir Moezzi said.

“A handful of yet-undiscovered fields would be announced within the coming two months,” he added.

“The new law will also encourage foreign companies to continue their efforts and explore more oilfields,” he stated.

Iranian experts have recently improved their capacities in order to make 50 percent of the equipment other than extraction tools, Mir Moezzi said adding that from now on joint companies, with one Iranian side, have good chances of winning tenders.