Tehran Oil Show aims to attract foreign technoloy, investment

According to ‘Iran Petroleum,’ the 22nd Oil Show “provides a good opportunity for Iranian and foreign companies to learn about the latest developments transpiring the petroleum industry with a view to starting to cooperate with each other, a specialized monthly on Iran’s oil industry, reported.

The Iranian capital is hosting the 22nd International Oil, Gas, Refining and Petrochemical Exhibition from May 6 to May 9 in an area more than 80,000 square meters.

The major event is being held 18 months since Iran reached a landmark nuclear deal with six world powers, letting Iran's Ministry of Petroleum sign heads of agreement (HOA) and memorandums with foreign companies based on the newly developed model of oil contracts, Iran Petroleum added.

Iran is set to hold a first tender within the framework of new contracts soon.

An outstanding feature of this year's exhibition is the presence of 11 Iranian exploration and production (E&P) companies. That could lay the groundwork for further cooperation between Iranian and foreign entities.

The monthly quoted Mohammad Nasseri, manager of the 22nd Show, as saying that the event “will allow international companies, domestic companies as well as public and private managers to hold negotiations at any level and be kept abreast of the latest developments pertaining to the petroleum industry.'

He added that the entire event is being held on an area more than 80,000 square meters. He noted that Iranian and foreign companies had demanded four times this area to showcase their products.

'This year, between 1,200 and 1,300 booths have been provided to domestic and foreign companies. In some of these booths, some companies are attending as a holding,' Naseri said.

Armenia, Austria, Azerbaijan, Belgium, Bahrain, Canada, China, Czech Republic, Finland, France, Georgia, Germany, Greece, Hungary, India, Italy, Japan, Malaysia, Monaco, Norway, Oman, Poland, Romania, Russia, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, the Netherlands, Turkey, United Arab Emirates, Britain and Ukraine are among major states that took part in the major event.

Nasseri said South Korea, Austria, Finland, the Netherlands, Japan, Germany, France, Italy, Spain, Turkey and China would attend in pavilions.

He added that the oil show had become more significant in the aftermath of the implementation of the landmark nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA).

'When domestic and foreign demand exceeds the space allotted for presence in the exhibition, one can say that the exhibition is of high significance and many companies are willing to display their capabilities and learn about the latest developments,' he said.

'The objective pursued by Iran in the 22nd Oil Show is to put domestic capabilities on exhibition and attract foreign investment. It seems that Iran has in recent years fared well with regard to communications with the petroleum industry, because many foreign exhibition organizers like those from the Netherlands, South Korea and Japan have expressed willingness to cooperate with Iran's oil industry exhibition,' Nasseri said.

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