Oil, gas, petrochemical projects to be offered to int'l investors in weeks

Oil Ministry Deputy for International and Commerce Affairs Amir Hossein Zamaninia told IRNA on Monday that in the next few weeks Iran will offer a number of projects to world companies in form of various contracts.

He said the contracts will be offered in such frameworks as buybacks, IPC, engineering and procurement and construction and finance (EPCF).

The official noted that foreign companies have many reasons for their interest in Iranian oil and gas projects and are looking forwards to receiving information on Iran’s projects for investment.

He also predicted that oil prices will be balanced by 2017.

Zamaninia said Iran enjoys a highly educated workforce which allures foreign companies, stressing that the country also has a solid political and security situation in the region.

He also noted that many foreign companies have prior experiences of cooperating with Iran and are familiar with its situation.

Referring to high interest of a number of Asian and European companies in joint investments with Iran on LNG projects, the oil ministry official went on to say that Iran has already had dialogue with many international companies active in the area.

He said projects worth 20 billion dollars are ready for implementation in enhancing natural gas production in five years which are hopefully to be utilized in cooperation with foreign investors.

Upon the implementation of the projects which upgrade Iran’s level of natural gas production to one billion cubic meters a day, the official said, the country will be able to join the world gas market in two or three years.

Zamaninia stressed that neighboring countries and then Europe top the list of Iran’s priorities in gas supplying.

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