The 20th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran is hosting a large number of foreign participants.
The show started on Wednesday and will run until Saturday.
Some 1,200 Iranian and 600 foreign companies have signed up to showcase their achievements at the exhibition. British, French, German, Italian, Russian and Chinese companies are among them.
Iran hopes the event would attract investment for the development of the massive offshore South Pars gas field, shared with Qatar, and the hydrocarbon fields located in West Karoun region in southwestern Iran.
Iran sits on the world’s 4th largest oil reserves and the second largest gas reserves.
South Pars, divided into 29 development phases, contains 40 trillion cubic meters (tcm) of natural gas. It covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar’s territorial waters.
The gas field is estimated to contain about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.
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