The conference intended to introduce Iranian companies’ capacities to foreign firms, bring in major energy firms to Iran for negotiations, and introduce Iran’s achievements to foreign investors, he said.

He also said that the Ministry of Petroleum had to postpone unveiling its new contract models because of the sanctions.

The official stressed that Iran is determined to secure the interests of its partners in the oil and gas projects. “We are not for putting at risk the other parties’ interests. Securing the mutual interests (of contracting parties) can lead to durable contracts.”

To a question on whether Iran managed to secure 30 billion dollar contracts as expressed by the minister of petroleum, he said the original forecast is 50 billion dollars but the ministry’s safe estimate which was announced was 25 billion dollars.

The representatives came from 45 countries. Totally, 335 companies have participated in the two-day event to be the first to know about the contract terms.