Gas flares burn near an oil well on the outskirts of Masjed Soleiman. Iran keen to invite international firms to take part in oil tenders (AP Photo/Vahid Salemi)
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Iran plans to invite international companies to bid for oil field development rights in June, a government official said, as the country seeks to revive its energy industry after years of crippling sanctions.Iran is rebuilding its oil and natural gas industries and restoring sales of crude after international sanctions were lifted in January.Iran's oil exports have doubled since the Organization of Petroleum Exporting Countries last met in December, the Oil Ministry's Shana news service reported Wednesday, citing Oil Minister Bijan Zanganeh. Foreign companies have been awaiting details of the investment contracts and bidding rules since Iran in November identified about 70 oil and gas fields that it would offer.Iran's crude production rose to 3.38 million barrels a day in May from 3.35 million in April, JBC Energy GmbH said Tuesday in an emailed report.
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