BAKU, Azerbaijan, August 17
By Elnur Baghishov – Trend:
Iran welcomes investors and foreign companies from other countries that want to cooperate with Iran on the development of the oil sector, Iranian Oil Minister Bijan Zanganeh said, Trend reports citing IRINN.
He made the remark at an event dedicated to signing of 13 contracts on the maintenance and increase of oil production in Iran.
The minister noted that if foreign companies come to Iran, it will help to accelerate Iran's technological development will accelerate.
Zanganeh added that however, if these companies do not come to Iran, the work on Iran's oil sector development will not stop.
On August 17, 13 contracts were signed between the National Iranian South Oil Company (NISOC), Iranian Offshore Oil Company (IOOC) and 14 Iranian contractor companies to maintain and increase oil production. As expected, Iran's oil production will increase by 185,000 barrels per day with the implementation of these contracts worth 1.5 billion euros.
As a result of new US sanctions against Iran imposed in November 2018, foreign companies operating in the oil sector left Iran.