1 September 2015 - 17:19
  • News ID: 246227
British  Amec Gearing up for Iran Return

TEHRAN Sept. 01(Shana)--Middle East and Africa President of the British oil giant, Amec Foster Wheeler, says the company is carefully watching the implementation progress of Iran's nuclear deal with world powers to return to the country.

"We are watching with interest the implementation progress of the joint comprehensive plan of action and we believe that there will be many opportunities in the foreign markets in which we perform work which is oil and gas, clean energy, environmental infrastructure and mining," said Garry Dryburgh to Shana. 

"We will be looking for opportunities to make assessments of what we can do in order to bring our knowledge and skills and experience back to our international oil companies and the NIOC and its affiliates when actions allowed," Dryburgh said. 

He underlined the company's presence in Iran which dates back to 1930s, saying, "We previously also had very good relationships with some of the local Iranian engineering contractors in oil and gas and we would be very pleased to see if we can reestablish some of them after the sanctions." 

He highlighted the Iranian "warmness and hospitality and generosity and frankness of discussions", and said, these are "always a fantastic starting point for a long positive relationship." 

Dryburgh said the company would begin with upstream industries as Iran would first need to raise its oil output to get kick start its economic development.  

"Upstream would be first and subsequently we would be looking at the downstream opportunities at the same time by building up infrastructure and looking at the mining resources that can be explored in Iran," he added. 

Amec Foster Wheeler was a subcontractor for engineering services in a major project to develop Iran’s South Pars Phases 6, 7 and 8. 

The company has been involved in a series of recent forums over Iran investment potentials including one held in Vienna in April in which it attended alongside other major energy corporations such as Chevron. 

The prospects for the removal of sanctions against investments in Iran’s energy industry have already provoked companies to look into the potentials to return to the country’s lucrative oil and gas projects. 

Nevertheless, many believe that no significant step to that effect is expected to happen until at least the second half of 2016 when the sanctions removal could start to take place.

News ID 246227

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