The ongoing Oil Show in Tehran can set the stage for attraction of investment in the upstream oil and gas sectors, a senior oil official said.
Ahmad Qalebani, managing director of the National Iranian Oil Company, (NIOC) said the first day of the exhibition was named “National Production, Failure of Sanctions and Development of Upstream Sector”.
“This year, more manufacturers of equipments are attending the exhibition. It is indicative of serious determination for supporting national assets,” he said.
Qalebani said active domestic manufacturers would be identified in the exhibition. “NIOC is identifying domestic manufacturers as part of its plan to communicate further with the private sector.”
Among NIOC’s major plans include development of exploration projects which would be operated by private investors and experienced Iranian engineers.
“This exhibition is the best opportunity to identify domestic and foreign investors,” he said.
Qalebani said during last Iranian calendar year to March, domestic banks accounted for more than 15 percent investments in oil industry which was unprecedented in Iran’s oil history.