Deputy Minister: Oil giants can come back to Iran under specific conditions

TEHRAN (FNA)- Iranian Deputy Oil Minister Emad Hosseini said the country has set certain conditions for the return of the world’s giant oil firms to Iran’s lucrative energy market.

“In the process of reforming the oil contracts, it has been decided that all the giant companies seeking cooperation in Iran’s oil industry should supply a considerable share of their needed oil tools, goods and equipment from the Iranian manufacturers,” Hosseini said in Tehran on Tuesday.

He also called on Iranian industrialists to improve the standards of their products to persuade the foreign firms to use their goods and products.

In relevant remarks in October, Iranian First Vice-President Eshaq Jahangiri said European companies are making increasing demands for cooperation with Iran.

“Right now many European companies have contacted Iranian firms and expressed their willingness for the expansion of mutual cooperation,” Jahangiri said.

The Iranian first vice-president underlined that Iran should seriously step towards development and industrialization.

“Iran is in a situation in the region and on the international arena that obstacles to its development should be removed …,” Jahangiri added.

Earlier this year, two major European firms, Shell and Total Oil and Gas Companies, expressed their willingness to resume operation in Iran.

By Fars News Agency 


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