Amir-Hossein Zamani-Nia

Iran expects sanctions removal by late January 2016

TEHRAN, Dec. 23 (Shana) – Iran expects to see the sanctions lifted by January 20, a senior Iranian oil official said.

Iranian Deputy Minister of Petroleum in International Affairs and Trade Amir Hossein Zamaninia said on Tuesday that the US is seeking to implement the Joint Comprehensive Plan Of Action (JCPOA) which Tehran agreed upon with the P5+1 group of countries in July, saying that the sanctions will be “completely” removed by the end of the month of Day (January 20, 2016).

“The US is after removal of the sanctions and implementation of the JCPOA and the restrictions are expected to be completely lifted by the end of the month of Day,” he said addressing a gathering of petroleum drillers marking the 36th anniversary of formation of the National Iranian Drilling Company (NIDC) in the southwestern city of Ahwaz.

“Key steps have been taken to put the JCPOA terms into action and the pact is expected to become effective by late December,” the official said.
He further underlined the benefits of cooperation between local and foreign companies in the drilling industry, adding that Iranian companies have several choices for their cooperation with foreign firms as many foreign firms have indicated willingness to join projects in Iran in the post-sanctions setting.

“We will not be politically oriented in choosing which companies to cooperate with; rather we will be focused primarily on commercial and technical aspects of the cooperation,” he added.
He also estimated that the activities of the NIDC will be boosted by at least 6 times once international drilling companies join projects in Iran after JCPOA implementation.

Zamaninia hailed NIDC for its growth during the sanctions years, and expressed hope that JCPOA’s enforcement will boost the growth as the owners of the latest technologies will arrive in Iran.