A senior Iranian oil official said that 12 Memoranda of Understanding (MoU) on oil fields have been so far signed with foreign companies, and 10-12 more would be signed soon.
"Low expense and low risk for oil and gas output are two advantages of Iran for attracting foreign investment,” said Deputy Head of the National Iranian Oil Company (NIOC) Gholamreza Manouchehri.
He also said that security of oil and gas investment in Iran is one of the necessities to which National Iranian Oil Company has always been faithful.
According to the Iranian oil official, investment in oil and gas up-stream is of high security.
"Now the expense of producing oil and gas in Iran is quite low comparing to many other countries and this issue has doubled motivation of international companies for investment in Iran’s oil and gas industry,” he noted.
He said that National Iranian Oil Company has signed MoU with 12 international companies, including Shell, Total, Inpex and Gazprom, adding it is expected that 10-12 more MoU would be signed with large international companies on oil industry up-stream.
According to the Iranian official, Kish International Petro Energy Exhibition is scheduled for January 9 to 12, and it is expected that representatives of Austria, Switzerland, Italy, France, Germany, China, the US, Spain, Russia, South Africa, Holland and Scotland are taking part in the event to put into test opportunity for investment in Iran oil industry.