Gholam-Hossein Nozari added cooperation would beef up security in the world’s energy market.

He made the remarks at the RAVAND 2^nd Annual Conference that started here today to discuss Iran’s role in economic cooperation and security.

The NIOC chief pointed to Iran’s rich oil and gas reserves and added the country would welcome international companies’ participation in domestic projects.

“According to the prediction, the world’s demand for energy will increase by 1.6 percent by 2030 and will hit 17 billion barrels of crude oil,” he added.

The official said NIOC is third in the world rankings in terms of hydrocarbon reserves, output, refining capacity, and sales.

The two-day RAVANAD Annual Conference’s topics include “opportunities and threats between Iran and United Nations Security Council”, “Iran’s role in regional security and cooperation”, “trend of world oil market and geopolitical change”, energy as foreign policy’s tool”, “oil projects in the Persian Gulf and Caspian Sea regions”, “regional states’ participation in joint ventures”, “cooperation among gas producing countries”, “feasibility of establishment of OPEC-style gas body and its impact on energy security”, “challenges facing financial sector and direct attraction of foreign capitals and Iran’s experience”, “industrial growth in Iran and need in foreign markets”, “tariff and tax policies”, “private sector’s cooperation”, “emergence of environmental challenges”, and “trade opportunities”.