Friday Jun 23, 2017

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Expert Warns against Delays in Signing Oil Deals

(Saturday, June 17, 2017) 15:24

TEHRAN, June 17 (Shana) -- An expert in international relations and technology says any delays in signature of oil deals will be detrimental to the country.

 

According to IRNA, Mansour Bazmi, deputy head of the technology and international relations department of the Research Center of Petroleum Industry (RIPI), said delays would incur losses on the country as its neighbors spare no efforts to recover oil and gas reserves which are share with Iran. 

He said most of Iran's oil fields are in their second half life and in dire need for adopting enhanced oil recovery methods for boosting their output. 

Furthermore, he said, many of the country's oil and gas fields are shared with neighboring countries which must be developed as soon as possible. 

Tapping foreign finances is an opportunity for Iran as they can open the path for arrival of new technologies to the country, he added.