Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
Deputy for Engineering and Development at the National Iranian Oil Company. Gholam-Reza Manouchehri said oil and gas development in Iran is attractive to foreign companies because of the relatively lower costs of oil and gas production/exploration in the country
He said Iran may sign several oil and gas deals soon. building up on a raft of preliminary agreements with energy majors as it gradually opens up its huge energy sector to multinationals and foreign investments.
He added that we have signed 12 MoUs with foreign companies and 10 to 12 more agreements are expected to be signed soon in the upstream oil and gas sector.
A growing number of energy firms. including Total S.A.. Anglo-Dutch energy major Royal Dutch Shell. China National Petroleum Corp. Japan`s INPEX and Malaysia`s Petronas have signed provisional agreements to study Iran`s massive underground oil and gas reservoirs in a bid to eventually develop the fields.
The official said oil and gas development in Iran is attractive to foreign companies because of the relatively lower costs of oil and gas production/exploration in the country.
Manouchehri also noted that Iran`s security and stability in the region shores up long-term investments. particularly in some upstream petroleum projects that require a significant initial investment before production begins.
