Media Wire

Foreign investors win bid to develop seven oil fields in Iran

Iran is pushing its policy to draw foreign investors in the oil sector by putting then on seven oil fields in the south of the country, the head of the National Iranian Oil Company (NIOC) says.

Mohsen Khojasteh Mehr said on Thursday, “As the minister of economy and finance pointed out, the oil sector has a significant track record with 4.8 billion dollars of foreign investment, and currently, seven oil fields are being developed with foreign investment.”

Undermining the Western sanctions spearheaded by the US, Khojasteh Mehr said Iran has signed oil contracts with different countries and is negotiating to sign new agreements.

Considering Iran’s potentials in investment capacities, he said the prospects for new agreements, with both domestic and foreign companies, are high.

The remarks came a day after the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition, also known as the Iran Oil Show 2024, kicked off in the Iranian capital Tehran.

Over 250 firms from 12 countries, including Argentina, Austria, Belarus, China, France, India, Japan, and Russia, besides 1,500 domestic companies, have taken part in the event.

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

Senior commander: Countering terrorism, maritime piracy primary goals of Iran-Russia-China joint naval drill

The Deputy Commander of Operations of the Iranian Navy has stated that enhancing combat readiness,…

17 hours ago

US arrests pro-Gaza student leader at Columbia University

United States Immigration and Customs Enforcement agents (ICE) have detained a Palestinian graduate student who…

17 hours ago

Iranian Forensics Org.: 78 people killed in Chaharshanbeh Suri incidents in 4 years

Iran’s Forensics Organization says 78 people have lost their lives across Iran in Chaharshanbeh Suri…

17 hours ago

Iran refutes claims of interference in Syrian developments as ‘ridiculous’

Iran's Foreign Ministry Spokesperson, Esmail Baqaei, has dismissed claims made by some Arab media regarding…

18 hours ago

Ukraine ‘may not survive’ Russia offensive: Trump

Ukraine "may not survive" Russia's full-scale invasion with or without American support, U.S. President Donald…

18 hours ago

‘Iran’s Daughters, Pride of the World’

Following the International Paralympic Committee’s recognition of Iranian Paralympic women as the world’s leading nation…

18 hours ago