Iran plans to get private sector involved in more oil-related projects

Business Materials 23 October 2019 14:58 (UTC +04:00)

TEHRAN, Iran, Oct. 23


Iran has defined more oil projects to work on, which would provide for more jobs, the country's Oil Minister Bijan Zangeneh said, Trend reports via IRNA.

"Defining a project means an economic plan to provide financial and technology resources," said Zangeneh in a meeting with some 70 businessmen of Iran's private sector, contractors and manufacturers of oil equipment.

He went on to add that creating more job places can be achieved through the new projects that have already been defined.

"The companies presented here can work on these projects. The oil ministry would help them regarding exports of technical services, gas and petrochemicals," Zangeneh said.

"The share of private sector in oil industry projects is not very big, but the private sector does have a big potential here," said the official.

"The private sector does not have the capacity to invest in exploration sector, however semi-public or private companies are running seismological, drilling and etc.," he said.