Lorek made the remarks in the 2nd Iranian Petroleum and Energy Club Congress & Exhibition (IEPC 2016) in Tehran.

He said that currently Iranian reserves stood at the 8th rank in production of petrochemical products.

He said that extensive oil and gas resources, high technical know-how and educated workforce are capacities of Iran for growth and development.

‘Iran is now a major petrochemical producer.’

He said that successful management of the oil, gas, petrochemical and refining projects by Iranian engineers at the time of sanctions testifies high capability of Iranian companies.

Total SA of France official said development of the upstream reserves is a necessity for Iranian oil industry.

He emphasized competitive market for Iranian petrochemical feedstock.

He noted that access to the world’s latest technology, financing and lowering cost are among other exigencies of Iranian oil industry.

He made the remarks when Azerbaijan Republic Minister of Communications and High Technologies Ramin Guluzade visited Payam Special Economic Zone in Karaj.

He underlined development of postal services as a significant issue in the field.

Suitable grounds are currently prepared for postal trade as well as logistics post in Payam Zone which should be properly utilized, he said.

Mehri further noted that if Payam Airport operates regularly scheduled flights, it will handle high percent of the country’s parcels.

Nejad-Salim extended the invitation at the 2nd Iranian Petroleum and Energy Club Congress & Exhibition (IEPC 2016) in Tehran on Tuesday.

He said that location on seashores, young experts, and diversity in feedstock are advantages of Iranian petrochemical industry for investment.

He said Iran is now well prepared to welcome joint venture investment by the Iranian and foreign companies.

He said that the company is willing to attract investment and that there is possibility for cooperation with Iranian and foreign entrepreneurs in the form of shares of the active companies or the shares of the projects now commissioned as well as finance.

Nejad-Salim said Iran welcomes financing by foreign investors and Iranian commercial institutions.

‘Such projects as NGL 3200, Hengam, Hormuz, Apadana and Bid Boland are now in the commissioning stage, needing investment.’

He put the budget needed for commissioning of 15 projects are $6.2 billion, that of the engineering projects at four billion dollars and the projects under study are estimated at five billion dollars.

He said that the company is the second big company in the Middle East signing contract for cooperation with such oil giants as Total.

He noted that through production of diversified products and petrochemical feedstock, the investment basket can be made less risky.

According to the Public Relations Department of POGC, the meeting was held to introduce existing plans and programs in South Pars and to evaluate technical services capabilities of the British Companies.

An advisor to Deputy Head of National Iranian Oil Company in engineering and development affairs Emadi said that the meeting was suggested by England-Scotland joint chamber of commerce to review how to participate in Iran’s oil and gas projects on which Iran is seeking to attract technology and technical services in upstream sectors.

Emadi added that the participants are the representatives of England’s industries which concentrate on different fields including presenting technical and technological services, excavation, gas transmission, pipeline corrosion and health and safety executive (HSE).

Regarding the capabilities and experiences in taking part in developing oil and gas projects and due to the beginning of a new round in bilateral ties after the removal of anti-Iran sanctions, Director General of the British-Iranian Chamber of Commerce (BICC) Martin Johnson expressed hope for further participation in Iran’s oil and gas fields.

Iran, Kazakhstan, Tajikistan, Turkmenistan and Turkey have attended the meeting.

The meeting aims to develop the railroad cooperation among the nations in the Central Asia and the Europe.

Developing international transportation in the region and creating the necessary coordianation for the Central Asia countries’ trains to cross from Iran to Turkey and Europe are among the important purposes of today meeting, an official at the Islamic Republic of Iran Railways told IRNA.

Hossein Ashouri said that the Iranian railways can be used as a bridge for making a link between the Central Asia, Turkey and Europe.

Today’s Tehran railroad meeting will make a draft of an agreement on the railroad cooperation between the five participating countries, Ashouri said.

He expressed hope that signing the primary memorandum of understanding (MoU) between NPC and Shell has been focused on the half-finished project of producing natural gas products.

Alimorad said that following the western sanctions on Iran, Shell company stopped its activities in Iran, but, signing the primary MoU the ground is prepared for its reappearance in the Iranian market.

He underlined that Shell company had cooperation with Iran in processing GTL (Gas To Liquids) processing, stopped by the sanctions.

‘Now, NPC hopes that signing the MoU would serve to re-start the half-finished project and in a near future the Royal Dutch Shell will make direct investment in Iran.

Managing Director of NPC Marziyeh Shahdaei signed Memorandum of Understanding with President of Department for Iran Affairs in Royal Dutch Shell Hans Nijkamp on October 9, 2016 in presence of Deputy Petroleum Minister for International and Commercial Affairs Amir Hossein Zamaninia and Ambassador of the Netherlands in Iran Susanna Terstal and Deputy head of British Mission in Iran Ben Fender for cooperation in petrochemical industry.

Hans Nijkamp said that the Anglo-Dutch firm believes in carrying out joint venture projects with NPC in petrochemical industry.

He made the remarks in a meeting with the Iranian Ambassador to Bosnia and Herzegovina Mahmoud Heydari on Thursday.

Bosnia and Iran enjoy high economic potentials for cooperation, the official added.

Sarovic voiced hope for boost of two countries’ bilateral ties after removal of anti-Iran sanctions.

He called for facilitation of banking relations and visa issuance for Iranian and Bosnian citizens and businessman.

During the meeting, the Iranian envoy for his part said that Iran and Bosnia are committed to remove obstacles on the way of improvement of relations.

He called for promotion of bilateral economic and trade cooperation between private sectors of Iran and Bosnia.

Speaking to IRNA, Manda Zangeneh, an official affiliated to the Sistan-Balouchestan Governorate said that Korean investors have declared interest to help local companies to build a 100-megawatt wind power plant in the Mil-E Nader region north of the Sistan-Baluchestan province.

According to the cooperation documents signed between the local companies and Korean investors, 220 million dollars of investment is needed to be absorbed to build the wind power plant in an area of 100 square kilometer, the official added.

Nowadays, utilizing renewable energies is considered as a solution to the energy crisis. Wind energy is one of the most available forms of renewable energies which originated from Iranian windmills in Sistan-Baluchestan which is one of the windiest provinces in Iran.

According to the Media Department of the vice presidency for science and technology affairs, a meeting was held in the presence of Sirus Vatankhah and the Austrian representatives of Austria’s efficient technologies work group to develop scientific and technological cooperation in renewable energies field.

Head of Foreign Economic Projects and Technology Exports Office of Federal Ministry of Science, Research and Economy of Austria, Master of foreign economic policy and the integration of Europe of Federal Ministry for Science, Research and Economics and Austrian politico-economic attaché took part in the event to establish necessary interactions to develop Iran-Austria scientific cooperation.

According to to the agreements reached during Vatankhah’s trip to Austria and the executive programs for technological cooperation between the two countries, it was decided that the annual program of holding joint workshops in renewable energies fields, cooperation in transferring the technology of the incineration system and the presence of Austrian firms in Iran’s international conference on renewable energies be on the agenda.

The Persian daily, Iran, quotes Michel as saying that in the wake of lifting the sanctions and implementation of the Joint Plan of Action (JCPOA), Iran’s international relations have undergone major change.

The ice of economic and commercial relations between Iran and other countries in the years of sanctions are getting melted.

He said that the oil industry, standing as the most important source of income for Iran, was one of the Iranian economic sector which suffered from the sanctions.

Under sanctons, oil production fell down due to restrictions on oil exports due to lack of proper and timely investment to the extent that export of gas lowered to less than one million bpd from more than 2.2 million bpd.

However, good predictions were envisaged for the propspects of Iranian oil economy were made in 2014.

In addition to reforms in government’s macro policies, which led to considerable growth in oil production even before lifting the sanctions, new atmosphere was created for return of investors and oil giants to Iran.

From the early days of the the nuclear deal, directors of the the international companies active in oil industry visited Tehran along with their respective country’s economic delegations and voiced interest in resumption of the ties cut-off for years.

Officials of the most reputable European oil companies held talks with Iranian officials.

Total SA of France, the world’s fourth major oil company that signed four contracts with Iran in the years prior to sanctions, is willing to come back to Iran.

The subject of the first contract is purchase of 160,000 bpd oil from Iran by Total, indicating the company’s interest.

In the post-sanctions era, Total team of experts and senior officials visited Iran four times following up issues of mutual interest.

This time reporters went to the 46-storey building of Total in Paris to hold talks with the senior officials.

Michel took part in the Q&A session with reporter of the Persian daily of Iran.

During the interview, the senior director of Total said that the French company is highly willing to return to Iranian oil industry.

He said that all the world oil giants have got prepared for entering Iranian oil industry and are competing with each other.

Michel said Total team of managers set two main conditions for resumption of ties with Iran and that fortunately two of the conditions have been met.

The first condition of Total was elimination of international sanctions on Iran, that was met in January 2016, and now all sanctions are lifted.

The second condition was related to oil contracts. According to the Total official, Iran’s previous contracts, which was the basis of cooperation with foreign companies, was based on the buy-back model, being less beneficial for the foreign party.

For this reason, foreign companies had called for amendment of Iranian oil contracts.

Of course, Iranian government had prior to the sanctions lifted, decided to attract foreign investment.

After months of debate and approval of the new model of oil contracts, the so-called IPC, the contracts were finalized and published.

In an interview with Iran, Michel reiterated Total’s willingness for presence in Iranian oil industry.

‘We are fully prepared for beginning projects and signing contracts with Iran. We are only waiting release of the new oil contracts to foreign companies. Total is ready for cooperation in oil production and exploration, willing to enter Iranian petrochemical industry.’

The Total of France official said that the contract for joint production of engine oil, signed several years ago between a private Iranian company and Total, will be activated.

The gas industry is also one of the main priorities of Total for investment in Iran.

Of course, the point Michel is stressing is transfer of the technical and engineering know-how.

The director said the MoU signed between Iranian Ministry of Petroleum and the company was enforced during visit of Iranian president to Paris.

He added that since the deal was signed, Total team of experts launched needs assessment job on the projects for cooperation, amount of investment and the technology.

Noting that Iran is a big country and is an influential player in energy for enjoying giant oil and gas reserves, Michel said Total SA of France can meet part of the investment needed for the oil projects, in parallel with transfer of technology and know-how.

He noted that of course, due to the world’s economic recession over the past several years, investment has been on the downward trend so far.

iIn 2014, Total SA of France made more than 28 billion euros investment and it is predicted that the figure will rise to 15 billion to 17 billion euros in 2017.
Translator: Behnaz Gholipour
Editor: Safar Sarabi