Deputy oil minister dismisses news on inviting big foreign companies to invest in Iran
Azerbaijan, Baku, Sept. 3 / Trend, S. Isayev, T. Jafarov
Iranian deputy oil minister Mansur Moezzemi dismissed previous news on Iran inviting several big foreign companies to invest in Iran's oil and gas sector, IRIB News reported.
The news was reported by Fars, which said Iran invited Shell (UK), Total (France), Repsol (Spain), Inpex (Japan), OMV (Austria), and Statoil (Norway) to participate in development of oil and gas projects in the country.
Prior to the international sanctions being imposed on Iran, all of the mentioned companies have worked in Iran.
"No private invitations to companies were issued," Moezzemi said. "Iran made an invitation in general, to attract companies for investing in Iran's projects."
He went on to note that cooperation between Iran and international companies is possible on the basis of auctions, within a competitive atmosphere.
Moezzemi also noted that within the cooperation, Iran's national interests should be taken into consideration.
Previously, Iranian oil minister Bijan Namdar Zanganeh has ordered a change in the structure of the oil ministry's contracts. The change aims at improving the situation to absorb more foreign investment.
Iran holds the world's third-largest proven oil reserves and the second-largest natural gas reserves, and plans to use foreign companies for various oil and gas related projects.
The Islamic Republic has previously dismissed foreign investment in oil industry of the country, because of sanctions of U.S and West after that IRGC supported national companies, started investing to this sphere.