5 October 2015 - 16:23
  • News ID: 247953

Iran Petroleum Ministry, UK Trade Delegation Discuss Post-Sanction Ties

Iran Petroleum Ministry, UK Trade Delegation Discuss Post-Sanction Ties

TEHRAN Oct. 5 (Shana) – UK’s first trade delegation to Iran after a nuclear deal between Iran and the world powers in July met with Petroleum Ministry’s officials during which resumption of ties in the wake of removal of sanctions was negotiated.

The Iranian and British delegations were led by Hossein Esmaeili Director General for Europe, US and Caspian Sea Neighbors, and former British Ambassador in Tehran Richard Dalton respectively.

Headed by Martin Johnson, Director General of the British-Iranian Chamber of Commerce (BICC), the 24 member-delegation arrived here on Friday.

In addition to the Iranian oil and gas sector, meetings are scheduled between BICC and Chamber of Commerce, Industries and Mines, private banking and the legal sectors.

British Foreign Secretary Phillip Hammond visited Iran last August, the first by a minister after 12 years of low-profile relations, during which he also met Iranian Petroleum Minister Bijan Zangeneh. 

Chancellor of the Exchequer George Osborne, Britain's second most powerful man, will reportedly lead a trade delegation to Iran next year in the wake of the lifting of anti-Iran sanctions.

"Next year I would love to lead a proper, big economic and trade delegation to Iran," Financial Times quoted him saying.

The oil giant British Petroleum and Anglo-Dutch multi-national oil and gas company Royal-Dutch Shell have said they are ready for presence in Iran’s projects.

Britain has announced its readiness to pay Iran’s share of revenues in the North Sea gas field of Rhum that it owns with Iran after sanctions are lifted, said Amir-Hossein Zamani, the ministry’s deputy for international affairs and commerce.

The Rhum field, 250 miles off Scotland’s northeast coast, is one the UK’s most important North Sea gasfields. 

Last year, BP said it restarted production at the field nearly four years after the oil major was forced to halt output because of sanctions against Iran in 2010.

Prior to its closure, Rhum contributed around 4¬5 percent of Britain’s total gas output. 

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News ID 247953

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