Iran eyes offshore oil, gas projects in post-sanctions era

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On December 23, 2015, Posted by , In News, By , , With No Comments

First Vice President Eshaq Jahangiri called for increasing Iran’s offshore oil and gas projects saying the marine industries can enhance the country’s development capacities.

“A vast section of our oil and gas resources are located in the marine areas and a large number of our educated labor are educated in marine-related disciplines,” he said at the 17th Marine Industries Conference (MIC 2015) in Kish Island on Tuesday.

“There are also land-locked countries in Iran’s neighborhood which need Iran for their marine access. This has created appropriate conditions for Iran’s transit role,” he added quoted by Shana petro-energy information network.

Jahangiri referred to plummeting oil prices from 100 dollars per barrel last year to the current 30 dollars and said the government of Iran with an oil-oriented economy has exerted its utmost to manage the challenge and curb is negative effects on the public.

Saying that sanctions against Iran are scheduled to be lifted in the coming days, the first vice president said the post-sanctions period requires prudent planning so that its economic opportunities will be duly utilized.

Iranian Offshore Oil Company (IOOC), is one of the world’s largest offshore oil producing companies. With over a half century of experience, the company shares one third of Iranian oil export, operating in Iranian side of the Persian Gulf and Oman Sea.
The main operation area of IOOC is the Persian Gulf where four other oil producing countries are located on the other side.

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