IFP Exclusive

110 European Firms Ready for Oil Cooperation with Iran: Official

At least 110 small and medium-sized European firms have expressed their readiness to establish cooperation with the Islamic Republic of Iran in various areas of oil industry, an Iranian official says.

In an interview with ISNA, Head of the Association of Iranian Petroleum Industry Equipment Manufacturers, Reza Khayamian said the bid to establish cooperation with the European small and medium-sized firms was made by the Association to the Iranian government.

“The Association of Iranian Petroleum Industry Equipment Manufacturers along with other related departments is seeking to invite a number of SMEs from Europe to attend a seminar in Tehran and establish cooperation with the Iranian government and private firms in oil areas,” he said.

110 European firms have already expressed their preparedness to attend the seminar and launch joint projects with the Iranian companies in oil and gas fields, he added.

“We are seeking to invite them to Tehran and link them to the Iranian firms so that they can launch joint projects in oil areas,” he noted.

US President Donald Trump’s decision to pull out of the Iran nuclear deal back in May has hampered oil connections between Iran and a number of other countries. Today, the countries are seeking ways to bypass the sanctions and preserve their relations with the Islamic Republic in oil areas.

To this end, the Association of Iranian Petroleum Industry Equipment Manufacturers has proposed to prepare the ground for joining Iranian and European small and medium-sized companies together. It also called for dividing large oil projects into small ones so that each European firm could press ahead with one of them.

Earlier, he said the European Union has welcomed the proposal and said the small and medium-sized firms from Europe can finance their projects by 20m euros through the European Investment Bank.

The EU has also called on the firms to join Iran’s private sector in pressing ahead with the projects.

According to Khayamian also said Iranian President Hassan Rouhani has also welcomed the proposal saying oil projects should be divided into small projects.

IFP Editorial Staff

The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

Recent Posts

Official: Iran responds to IAEA resolution with increased nuclear enrichment capacity

Behrouz Kamalvandi, the spokesperson for the Atomic Energy Organization of Iran (AEOI), says the organization…

14 minutes ago

Pictures: Demonstrators in Tehran support people of Gaza, Lebanon

Hundreds of people gathered in Tehran on Friday morning in front of the United Nations…

18 minutes ago

Int’l lawyer: US plans to sanction countries cooperating with ICC on Netanyahu arrest

An international law expert and analyst has revealed the U.S. plans to impose punitive measures…

3 hours ago

Minister of science: 25% of Iranian university professors emigrated due to economic challenges

Iran’s Minister of Science, Research, and Technology, Hossein Simayee Saraf, addressed on Thursday academic migration…

3 hours ago

IRGC commander: ICC ruling against Netanyahu signifies political demise of Israel

The Commander of Iran’s Islamic Revolution Guard Corps (IRGC), Major General Hossein Salami, says that…

3 hours ago

IRGC: US Iran’s main enemy, Israel can’t survive without its support

The spokesperson and deputy head of public relations for the Islamic Revolution Guard Corps (IRGC)…

6 hours ago