There are 500 billion barrels of untapped oil in the fields across Iran, he said in a TV program, adding “One percent addition to recovery of the fields will earn the country billions of dollars in revenue.”
Iran Petroleum Contracts (IPC) Conference concluded on Sunday in which participants from 137 major energy companies were introduced to new contract models to invest in Iran oil and gas industry.
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.
“All firms that enrolled in the conference took part in it. There will be meetings in future for those companies that did not take part in the Tehran conference.”
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 was 50 billion dollars but the ministry’s safe estimate which was announced was 25 billion dollars.
Representatives from 137 petroleum heavyweights including Royal Dutch Shell, Total and Lukoil, to name a very few, attended the IPC Conference in Tehran.
A follow-up conference will be held in London on February 22-24 after the IPC event in Tehran.
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