Baku, Azerbaijan, June 19
By Khalid Kazimov - Trend:
Several companies from the UK, Germany and Switzerland have expressed interest in participating in projects for developing Iranian oil industry’s downstream sector.
Abbas Ali Jafari Nasab, managing director of Iranian Oil Pipelines and Telecommunication Co. (IOPTC) has said that the idea of cooperation with European companies comes in line with the Islamic Republic’s policy on transferring technical know-how to Iran, SHANA news agency reported.
The official said that Iran will only cooperate with foreigners in the issue of transferring technology as the domestic producers enjoy high capabilities in building the required equipment.
Iranian downstream oil projects require some $47 billion worth of investments in the next 10 years, $34 billion of which would go for building new refineries. Meanwhile, the Islamic Republic needs $94 billion in investment for developing upstream oil projects by 2025.