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Iran to present oil projects late Oct.


Iran to present oil projects late Oct.

Iran says it will showcase its most attractive oil and gas projects to investors in a conference in capital Tehran later this month.



Rokneddin Javadi, the managing director of the National Iranian Oil Company (NIOC), said on Thursday that the conference - which will be held from 19-21 October - will feature a large number of new projects.

"During the conference...one of our goals is to introduce potentials of Iranian private sector and connect them to foreign partners so they can cooperate in upcoming oil and energy projects," Javadi said.

The NIOC chief further invited international oil and gas corporations to invest in the projects that Iran will unveil.

"We welcome all oil companies, including the Americans, that meet Islamic Republic's requirements to invest in Iran. We welcome competition among foreign oil companies," Javadi told Reuters.

He said Iran placed no limitations on Western companies, including US companies, investing in its oil and gas sector.

"Iran has never banned American companies from working in Iran. It was their government's imposed unjust limitations that took this chance away from them."

The official added that Iran needed foreign know-how and technology to help develop its oil fields and improve pipeline and refinery infrastructure.

"Our policy is that all foreign companies can bring their investment, technology and advanced management skills to develop our oil industry. Iran's market will not be monopolized by a few companies," Javadi stressed.