File - Iran has the world’s largest gas reserves and is fourth on the global list of top oil reserves holders.
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Iran outlined plans Thursday to rebuild its main industries and trade relationships following a nuclear agreement with world powers, saying it was targeting oil and gas projects worth $185 billion by 2020 .Nuclear inspectors must also confirm that Iran is complying with the deal.He said the deals would last 20-25 years – much longer than the previously less popular buybacks, which effectively were fee paying deals with global oil majors such as France's Total for services they performed on Iranian oil fields.He said Iran would introduce the projects it has identified and the new contract model within 2-3 months.Deputy economy Minister Mohammad Khazaei said Iran had already completed negotiations with some European companies wanting to invest in the country.
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