SHANA - Polish Oil and Gas Company (PGNiG) has expressed its willingness to invest in Iran�s oil sector, its director of business development said.

 

Robert Iwaniec told reporters at Iran Oil Show that the company would be keen to invest in Iran�s oil market once all restrictions, including banking problems, have been removed.
He said that PGNiG would like to cooperate with Iranian companies in supplying services and products.
Iwaniec said his company welcomed Iran�s new model of oil contracts, adding that National Iranian Oil Company (NIOC) had tried its best to modify the contracts.
Last November, PGNiG and NIOC signed a letter of intent regarding cooperation on exploring the Soumar oil deposit in Iran.
The Soumar deposit is estimated to hold about 475 million barrels of oil, PGNiG said, adding it will take a decision whether to invest in the deposit after a 6-month geological analysis.
 

"I consider the Soumar deposit to be a very prospective one and the co-operation with NIOC opens new prospects regarding extraction for us," PGNiG Chief Executive Piotr Wozniak said at the time.