Iran, Britain discuss oil, gas cooperation

TEHRAN (ISNA)- British Deputy Oil Minister Francis Maude and Iranian Deputy Oil Minister for International Affairs Amir-Hossein Zamani-Nia discussed further oil and gas cooperation between the two countries as they met in Tehran.

Representatives of British Petroleum, OTC, Petrofac and some energy managers are accompanying the British secretary.

“Over 50 oil and gas up-stream and down-stream projects will be introduced to investors in Tehran conference,” Zamani-Nia said in the meeting referring to Iran Petroleum Contract (IPC) conference in Tehran.

He said that the conference is scheduled for February 2016 in London, adding the new oil contracts would pave the way for presence of foreign investors in Iranian oil industry.

Francis Maude, for his part, said companies accompanying him in the visit are planning to make long-term investment in Iran and they need to be assured that there are reliable mechanisms for guaranteeing their investments.