By Alex Lawler
VIENNA, Dec 5 (Reuters) - Paolo Scaroni of Italy's Eni met with Iranian Oil Minister Bijan Zanganeh onThursday, the first Western oil CEO to do so publicly with theminister since last month's interim nuclear deal.
The meeting, in the minister's Vienna hotel suite followingWednesday's OPEC talks, came after Zanganeh named Eni as one ofseven Western companies he wanted to invest in Iran's energysector if international sanctions are lifted.
The talks also covered debts Eni is owed by Iran forprevious investment and future terms for foreign companies tohelp revive Iran's oil and gas industry, Scaroni told reportersafter the meeting.
"We had a fairly long and very warm meeting with theminister, who is a person we know very well," he said. Zanganehwas reappointed oil minister after an eight-year break by newreformist President Hassan Rouhani.
"We have been discussing potential new activities of Eni inIran - of course all this is subject to lifting of thesanctions," Scaroni said. "This is the key issue."
He said new investment would probably involve oil and gasprojects.
Iranian oil production has fallen more than a millionbarrels a day since oil trade, shipping insurance and bankingsanctions were imposed last year to pressure it to stop nuclearenrichment.
Tehran reached an interim six-month agreement last monthwith six world powers to downgrade enrichment and other parts ofits nuclear programme.
"Of course we hope the sanctions will be lifted in the nextsix months or in the near future," Scaroni said. "Consideringthat for us Iran is really a legacy country - we have been theresince 1955 - we never abandoned the country, not even in thelast difficult years."
Other Western oil executives also visited Zanganeh's suite,including CEO Gerhard Roiss of Austrian energy group OMV AG, who declined to comment to reporters.
An informed source said officials from energy company RoyalDutch Shell and oil trader Vitol also metwith the Iranian minister.
Shell declined to comment. Vitol also declined to commentwhile adding that its position on Iran remained unchanged and ithad ceased all business dealings with the country.
Iran's buyback investment model with foreign firms - whichdoes not allow them to book reserves or take equity stakes inprojects - would need to be changed to attract major newinvestment, Scaroni said.
"We have been discussing about potential modifications tothe contractual framework of Iran - the famous buyback - whichwe certainly do not consider a good way of attractinginternational oil companies in Iran," Scaroni said.
"We felt that the minister is certainly ready to modify thisframework in such a way to make attractive."
He said the discussion also covered outstanding payments dueto Eni for previous investments, including the South Pars 4 and5 gas projects.
"We plan to continue to be in Iran and possibly increase ouractivity as long as the sanctions regime is lifted," Scaronisaid. "There are so many opportunities in Iran both in oil andgas that we will certainly find a common area of interest."
