Baku, Azerbaijan, Apr.4
By Fatih Karimov - Trend:
A conference in London for introducing major Iranian oil industry projects will be held in September.
Seyed Mehdi Hosseini, the head of Iran's Oil Contracts Revision Committee, said that nuclear talks between Iran and the P5+1 renewed the hope for unveiling the new contracts more than the past, Iran's Fars news agency reported on April 4.
The London Conference aims to provide multinationals with opportunities for development of oil and gas fields in Iran.
Since an agreement between Iran and world powers is to be finalized by July, a 2-month period seems to be appropriate for holding the conference in the wake of the agreement, he added.
However, holding the conference should be ratified by the cabinet of ministers, he noted.
The conference participants include both senior Iranian representatives and key figures from the international oil and gas community, who will share insights into the exciting opportunities and key challenges that will arise in Iran, after the lifting of sanctions.
The summit was earlier organized by CWC group for April 2014, however the group changed the date two times reportedly considering the restrictions related to international sanctions for active participation of major oil companies and financial institutions.
The organizer group changed the date of conference to February 2015 first time. It was supposed that nuclear talks between Iran and the P5+1(five permanent members of the UN Security Council plus Germany) achieve a result by November 2014.
However the sides failed to meet the 24 Nov. 2014 deadline and the talks between Iran and the P5+1 group extended until July 1, 2015 to reach a comprehensive nuclear agreement.
Iran plans to introduce over 40 major oil industry projects at the conference.
Moshtaghali Gohari, deputy head of Integrated Planning Department of National Iranian Oil Company (NIOC) earlier said that Iran would absorb about $40 billion of investments for the projects.
The mentioned projects include development of remaining phases of South Pars Gas Field as well as other development projects of the country's joint oil and gas fields, he said, adding that absorbing financial sources for developing joint fields is priority for Iran.
