Official: European companies willing to participate in Iran's energy expo

Iran Materials 29 December 2018 11:21 (UTC +04:00)

Baku, Azerbaijan, Dec. 29

By Elnur Baghishov - Trend:

Some 110 European companies are said to be ready to cooperate with Iran in the oil industry, but, for this, we are looking forward to the determination of the financial mechanism between Iran and the EU, the head of the Iranian Petroleum Industries Equipment Manufacturers Association, Reza Khayyami, said, Trend reports via ISNA.

A group of these countries are expected to be invited to participate in the 14th International Petro Energy Exhibition on Jan. 21-24, in Iran's Kish city, he said.

"European companies have expressed their willingness to participate in the exhibition. However, it is not yet clear whether they will be invited to the exhibition. First of all, their special-purpose vehicle [SPV] should be determined, " Khayyami said. "In case of the SPV's absence, their participation is of no use for Iran. Eventually, we are anticipating the creation and commission of the SPV between Europe and Iran."