Director of Exploration Affairs at NIOC Seyyed Saleh Hendisaid plans were underway to award Exploration Projects to domestic E&Pcompanies now that the US was exerting pressure on foreign companies to operatein Iran.

“At least three Exploration blocs will be awarded todomestic firms in the near future,” the official said.

Addressing a press conference on Tuesday, Mr. Hendi saidNIOC presented 14 Exploration blocs to domestic and international companiesduring the Tehran Oil Show in May.

“Despite the fact that the blocs were presented to investorsin order to absorb direct investments, we have decided to award them todomestic companies given imposition of US sanctions on Iran’s oil industry,” hesaid.

He also stated that three or four blocs would be awarded todomestic firms in the coming months.

The official also confirmed that new discoveries had beenmade in oil and gas fields in Iran, but refrained from announcing any figuresin this regard, saying announcement of such figures was only up to the IranianMinister of Petroleum.