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Iran needs major investments in its offshore oil and gas sectors. said deputy economy minister on Monday.
Mansour Moazzami said the country requires investment to the tune of $30 billion in its offshore sector.
A report from Chatham House in 2015. before sanctions relief emerged. said Iran is in `severe need` of technology and capital that could emerge from a stronger relationship with international oil and gas companies.
Moazzami said the multilateral nuclear agreement that brought sanctions relief to Iran was paying off nonetheless.
With an offshore oil and gas conference underway in Tehran. the minister said deals were expected with the maritime division of Korea`s Daewoo — a division that includes container ships and oil tankers.
RBC Capital Markets reported last week that a Rouhani victory would almost certainly open the Iranian energy sector up to foreign investments.
Iran is one of the lead oil producers among members of the Organization of Petroleum Exporting Countries. Its offshore South Pars field. which is shares with Qatar. is the largest natural gas field in the world.
