Zamaninia told Shana that big and middle-sized Italian companies can run projects in Iran by investing in them with regard to the fact that Iran has introduced major oil and gas projects at the Tehran IPC Conference. 

"SACE insurance company has announced its insurance coverage in Iran will not be lower than the pre-sanctions era and its ceiling with be unlimited," he added. 

Prior to the 2012 sanctions in Iran, the agency offered insurance and credit services to many oil and gas projects and, along with many other Italian firms, has endorsed the new oil contract model of Iran, knowns as the Iran Petroleum Contract or (IPC) and has indicated willingness to return to the country in the post-sanctions setting, said Zamaninia. 

Representatives and executives from leading Italian firms including SACE, Saipem, Volvo and Eni were present in the meeting with the top Iranian energy official. 

But under the IPC, National Iranian Oil Company (NIOC) will set up joint ventures for crude oil and gas production with international companies which will be paid with a share of the output.

Zangeneh has said that Iran welcomes foreign investment in its energy industry, but stresses technology transfer by foreign partners in the new contracts.

The projects include 29 new and currently producing oilfields and 23 gas developments. Onshore fields make up 34 of the projects. The projects are estimated to be worth more than 30 billion dollars.