40 foreign companies ready to invest Iranian oil projects

SHAFAQNA –Dozens of foreign companies have expressed their readiness to invest in Iranian oil projects.

Iran is in talks with foreign companies which ended their oil and gas activities in Iran following sanctions imposed on the country. So far 40 firms and companies from Canada, Australia, Japan, Malaysian, South Korea, Russia and China have expressed their willingness to join Iranian oil projects.

Iranian Oil Ministry started negotiations with giant oil and gas companies following talks between Iran and G5+1. Iranian Oil Minister Bijan Zanganeh has already said that he was upbeat on presence of foreigners in the Iranian industries.

Iran has started to change its oil contracts to pave the way for participation of foreign companies in the projects.

The country has so far held over 50 meetings with the companies, exploring conditions for their presence in Iran.

Head of Investment Committee of National Iranian Gas Co. (NIGC) Asghar Soheili-Pour said the companies are working on making pipes, development of refineries and gas compressor stations. The required fund for the project has been presented to the investors in the form of reports and investment packages.

Development of Ilam Refinery in western Iran is among the projects.

Four British and French companies, three from Japan, two from South Korea and four from China have expressed their readiness to join Iranian gas projects.





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