Iran’s Oil Ministry website Shana announced on Friday that the long-awaited new model contract for oil and gas will be unveiled ahead of schedule, reported Reuters.

“First, the new contracts will be unveiled in Tehran in the middle of the month of Alban (which starts on October 23),” Shana quoted Iran’s Deputy Oil Minister Rokneddin Java as saying.” Then more details will be revealed at a conference in London”, he added.

The original set date for the new contract model was December, at the aforementioned London conference.

Java also said that the international price oil would not drop below $40-45 per barrel in 2016, even though he insisted Iran intended to increase its oil exports to recapture its global market share.

In other news Managing Director of the National Iranian Oil Company (NIOC) Rokneddin Javadi said that “Iran’s crude oil stored at sea is less than 10 m barrels and is not a big figure,” said Press TV.

He dismissed foreign media estimates of higher volumes as nothing more than “psychological warfare”.

He did admit, however, that the “stored gas condensate at sea is another story”.

“Our assessment is that our crude sales will rise by 500,000 b/d immediately and in less than a month after the removal of sanctions,” added Managing Director of the Iranian Offshore Oil Company (IOOC) Saeed Hafezi.