Iranian Deputy Oil Minister Emad Hosseini said Tuesday the country has set certain conditions for the return of the world’s giant oil firms to Iran’s lucrative energy market, the FARS News Agency reported.

“In the process of reforming the oil contracts, it has been decided that all the giant companies seeking cooperation in Iran’s oil industry should supply a considerable share of their needed oil tools, goods and equipment from the Iranian manufacturers,” Hosseini said in Tehran.

He also called on Iranian industrialists to improve the standards of their products to persuade the foreign firms to use their goods and products.

Iranian First Vice-President Eshaq Jahangiri said in October that European companies wanted cooperation with Iran.

“Right now many European companies have contacted Iranian firms and expressed their willingness for the expansion of mutual cooperation,” Jahangiri said.

The Iranian first vice-president underlined that Iran should seriously step towards development and industrialization, FARS said.

“Iran is in a situation in the region and on the international arena that obstacles to its development should be removed …,” Jahangiri added.

Earlier this year, Shell and Total said they want to resume operation in Iran.

Iran was exporting about 2 million barrels per day before U.S. and international sanctions were imposed.

Total helped Iran develop the South Pars natural gas field in the Persian Gulf, one of the biggest gas fields in the world.

Last year, Total paid American regulators $398 million to settle charges that it bribed Iranian officials to gain access to the South Pars field.

In 2005, Shell completed two projects worth $800 million for development of the Soroosh and Nowrooz offshore oil fields.


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