Iran signals opening of oil sector to foreign investment after conflict period

Iran’s oil industry is set to become a major destination for investment and international partnerships in the post-conflict phase, according to Oil Minister Mohsen Paknejad.

In a statement published by the Shana news agency, Paknejad said the country’s energy sector will offer broad opportunities for global investors.

“In the post-agreement era, Iran’s oil industry represents one of the largest investment and partnership opportunities available to the global economy. If the parties to the agreement in the West remain committed to its spirit, the oil sector will be the ultimate test of that commitment. 

Hundreds of investment opportunities have already been identified, and a range of contractual frameworks for financial, technical and operational partnerships is ready for implementation. Iran is prepared to review proposals swiftly and move promising projects into the execution phase,” he wrote.

The minister added that Iran is prepared to review cooperation proposals in the near future, sign contracts, and rapidly establish working groups with investors to facilitate projects.

By Jeyhun Aghazada