Italy says Iran Probably Open to Changing Eni Contract Terms

Reuters

ROME, Aug 5 (Reuters) – Italian Foreign Minister Paolo Gentiloni said on Wednesday that Iran is probably open to changing contract terms with Italy's state-owned oil company Eni as Iran emerges from a tough regime of Western sanctions.

The contracts "will likely... be modified in the interest of the companies that want to invest," Gentiloni told reporters in Tehran. A spokesman at the ministry in Rome confirmed the comments reported by Italian news agencies.

Gentiloni and Industry Minister Federica Guidi are visiting Iran after a nuclear deal was struck last month. Eni Chief Executive Officer Claudio Descalzi is accompanying the ministers. Eni had no immediate comment.

Eni said earlier this month it would consider investing in Iran after sanctions are lifted and if Tehran offers more favourable contract terms in line with international standards.

(Reporting by Steve Scherer and Giancarlo Navach)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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