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Official: Post-Sanction Iran Eyes $185b Investment in Oil Industry.

TEHRAN (FNA)- Deputy Petroleum Minister for International Affairs Amir-Hossein Zamani-Nia said Iran is planning to secure 185 billion dollars of investment in its oil industry during the Sixth Five-Year Development Plan by 2021.

Speaking at the opening of the two-day Iran Offshore Projects Outlook 2015 in Netherlands on Tuesday, he added, "In the post-sanction era, Iran's economic ties with the world will develop."

"Stable domestic environment, effective and constructive foreign policies in international interactions, and Iran's deep interest in observing international law to settle differences are the incentives for foreign investors in Iran," he said.

He introduced massive volume of untapped oil and gas reservoirs, high standards of the industry's technical and engineering operations, availability of expert human resources with relatively low fees, and low-cost oil extraction compared to other producers as Iranian oil industry's additional advantages for foreign investors.

The Iran offshore projects seminar in Netherland's town of Wassenaar is going to introduce the current and upcoming projects as well as explore developing and operating of Iran's offshore oil fields.

It is organized by CBC Oil & Gas and by Business and Knowledge Center Holland B.V. - BusiNow - with support of the Embassy of the Islamic Republic of Iran, organizers said.

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Publication:FARS News Agency
Date:Oct 29, 2015
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