Foreign oil firms presence conducive to Iran petroleum sector

Shana — Iranian Minister of Petroleum Bijan Zangeneh said presence of foreign developers in oil and gas projects in Iran would ensure economic stability and development in oil industry while keeping the enemies away.

Addressing the Parliament on Sunday, the official said Iran can already cooperate with a limited number of foreign firms in oil projects; a number which shall not become even smaller by domestic sanctions.

He said the above in response to some MPs who had questioned Iranian Ministry of Petroleum’s interactions with certain banned foreign companies.

“If we are told that cooperation with a certain company is banned based on the law we would follow suit but this must first become ascertained for us before we stop our interactions with them,” said the official.