Iran is urging international oil giants to invest in its oil and gas industries at the ongoing World Economic Forum in Davos, Switzerland, local media reported Thursday.

Iranian Oil Minister Bijan Namdar Zanganeh wants to start negotiations with international firms to attract investment in oil and gas projects, the Tehran Times said. .

Zanganeh told the Iranian press before leaving for Davos Wednesday that he planned to meet with senior officials of large international oil and gas companies. He said he would brief them on the impact of the Geneva deal for Iran’s nuclear program and invite them to return to Iran’s oil and gas market.

“It is expected that with the implementation of the contents of the (Geneva) agreement, Iran will reclaim its rights, particularly in oil and gas sectors,” he said.

Zanganeh reportedly asked Shell and British Petroleum for cooperation, according to Lord Lamont, the head of Britain-Iran Chamber of Commerce.

Western companies left the Iran oil and gas sector due to international sanctions. The Geneva nuclear deal reached in November  is likely to result in a lifting of many of the trade sanctions.

Zanganeh said late last year that Tehran also want France’s Total, Norway’s Statoil, Italy’s Eni, and Exxon and Conoco from the U.S. to lead new investment in Iran’s oil and gas sector.

“We will do anything necessary to get back Iran’s share in the oil market,” Zanganeh said.


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