7 October 2015 - 11:57
  • News ID: 248053

ICOFC Drafts New Oil Investment Packages for Tehran Conference

ICOFC Drafts New Oil Investment Packages for Tehran Conference

TEHRAN Oct. 7 (Shana) – CEO of the Iranian Central Oil Fields Company (ICOFC) said the firm has prepared investment packages to be introduced to the upcoming conference on Iran’s new petroleum projects to be held in Tehran.

“To enhance recovery by its subsidiary firms, ICOFC has drafted special investment packages,” Salbali Karimi told Shana.

“The main concern and capital of the officials in oil industry is the issue of improved recovery,” he added.

Vice president for legal affairs, Elham Aminizadeh, has said Iran’s new oil contracts which were verified by the cabinet last week will be attractive to investors while securing the country’s interests and maintaining its sovereignty over the oil reservoirs.

Also Minister of Petroleum Bijan Zangeneh has said the main conference on introducing Iran’s new oil contracts will convene in the near future in Tehran.

“The new oil contracts and the projects to be developed within their scope will be introduced to foreign investors in a conference in Tehran in month of Aban (Oct 23 – Nov 21),” he told Shana.

In September, he welcomed foreign investment in Iran’s energy industry, but said the Islamic Republic is interested in technology transfer by foreign partners.

“More than cash or using the technology, we would like to have their advanced technology to be transferred to domestic companies,” he stressed.

In the wake of nuclear deal in July, Iran has hosted high-ranking officials and corporate executives of major companies from Germany, Spain, Austria, Italy, and France to discuss new cooperation ventures.


News ID 248053

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