29 Mar 2024
Tuesday 27 October 2015 - 22:58
Story Code : 186176

Post-sanction Iran eyes $185b investment in oil industry: Official

TEHRAN, Oct. 27 (Shana) Deputy Petroleum Minister for International Affairs Amir-Hossein Zamani-Nia said Iran is planning to secure 185 billion dollars of investment in its oil industry during the Sixth Five-Year Development Plan by 2021.

Speaking at the opening of the two-day Iran Offshore Projects Outlook 2015 in Netherlands on Tuesday, he added, In the post-sanction era, Irans economic ties with the world will develop.

Stable domestic environment, effective and constructive foreign policies in international interactions, and Irans deep interest in observing international law to settle differences are the incentives for foreign investors in Iran, he said.

He introduced massive volume of untapped oil and gas reservoirs, high standards of the industrys technical and engineering operations, availability of expert human resources with relatively low fees, and low-cost oil extraction compared to other producers as Iranian oil industrys additional advantages for foreign investors.

The Iran offshore projects seminar in Netherlands town of Wassenaar is going to introduce the current and upcoming projects as well as explore developing and operating of Irans offshore oil fields.

It is organized by CBC Oil & Gas and by Business and Knowledge Center Holland B.V. BusiNow - with support of the Embassy of the Islamic Republic of Iran, organizers said.
By SHANA
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