Head of Majlis Energy Committee Ali Marvi said on Saturday that stability and security of Islamic Iran are the advantage of foreign investment in Iranian oil industry.
He made the remarks in his statement to the Seminar on Introducing new IPC oil contract.
Marvi said the basic conditions for oil contracts is customary in majority of the oil rich states and Iranian Parliament played major role to nationalize Oil Industry in Iran. Supervision over implementation of laws, contracts and international agreements is among natural duties of Majlis, he added.
He said the International Energy Agency predicts that by 2045, 48,000 billion dollars investment needs to be made in the energy sector, half of which in the fossil energy sector.
High productivity and profitability and the stability and security in the country are among advantages for foreign investment in Iranian oil and gas industry, he said.