Iran has certified 29 companies from more than a dozen countries to bid for oil and gas projects using the new Iran Petroleum Contract (IPC) model, a report said.

Companies include Shell, France's Total, Italy's Eni, Malaysia's Petronas and Russia's Gazprom and Lukoil, as well as companies from China, Austria and Japan among other countries, Iran Daily reported, citing Shana.

Iran hopes the new IPC, which offers to ease the terms for oil development deals, will attract foreign investors and boost production after years of sanctions, the report said.