Speaking at the inaugural ceremony, Davoudi stated that the 14th round of the exhibit has grown in terms of quality and quantity compared to its previous edition.

"The growth as well as an increase in the number of oil and gas projects have come at a time the Islamic state is under pressure by global arrogance."

He pointed out that enthusiasm among foreign oil and gas companies to take part in the exhibition has increased.

Over 1300 domestic and international firms from 33 countries involved in gas and oil sectors are taking part in the exhibit.

Davoudi noted that the exhibition is aimed to give an insight into the progress made by domestic oil industries and investment opportunities as well as joint economic interaction between Iran and other states.

Davoudi underscored that exploration of new oilfields, rise in oil inventories, increase in gas production capacity, improvement of productivity are among the programs pursued by the government in line with the directives of the leader of the Islamic Revolution.

He stated that the present government is implementing many giant projects and has adopted plans to encourage foreign investments in these projects.

The official further stated that the exhibition is a venue to showcase the country’s capability, achievements and potentials to entrepreneurs from Middle East and other regions who are interested in investing in the Islamic state.

According to PIN, thanks to round-the-clock efforts made by domestic experts from private and state organizations in the past three decades, Iran has achieved much progress in oil industry.

The official said that Iranian companies are not only able to operate, plans and implement giant oil and gas projects in the country but they can also compete with foreign competitors in the global market.

The exhibit will run through Sunday.