Iran’s South Pars oil and gas field. The terms of Iran’s new oil contracts will be more favorable to foreign investors. Photo: NIOC.

Iran has overhauled the way in which it offers contracts to foreign energy companies in a bid to attract up to $30 billion of new investment.

The terms of the new oil contracts will be more favorable to foreign investors, who will be allowed a greater stake in long-term profits.

Read full story at BBC.