Minster of oil announced here that new contract formats, generally referred to as Iran Petroleum Contracts (IPC), for energy deals will be introduced on November 28-29.

With the help of the new contracts some problems of the oil industry will be solved, Bijan Namdar Zangeneh said.

It is predicted that $30 billion investment to be attracted by the new oil deals, said the minister.

According to new contracts, the Iranian experts will get the opportunity to get familiarized with the latest world technologies which the foreign investment companies will introduce.