“North Azadegan is our first experience” under the new Iran Petroleum Contract (IPC) model, Ali Kardor said.
Kardor made these comments on the sidelines of the international exploration and production conference, Iran E&P 2018, in Tehran.
He added that 10 technical groups are assessing and negotiating over the new oil contracts.
He also expressed hope that several more contracts would be signed in the next Iranian year starting on March 21.
He did not name the other fields, nor the companies which are about to develop the fields.
According to Kardor, the companies securing the tender bids will take over the North Azadegan oil field for 20 years.
The field was discovered in 1999, and is located 80 kilometers west of Ahvaz, near the Iraqi border.
Iranian officials have described the IPC as a more attractive contract than the buy-back scheme.
Buy-backs were production deals under which foreign companies recouped their costs via exports of oil and gas.
Minister of Petroleum Bijan Zangeneh has said buy-back deals were not suitable any more for Iran which needed enhanced recovery modalities to revive its aging oilfields.
