In the post-agreement era, as in previous periods of national advancement, Iran’s oil industry will serve as a key engine of economic growth. Having endured the full weight of sanctions and restrictions for decades, the sector has focused more than any other on reducing technical and operational dependence on foreign parties. Its current strength lies in its technological and operational independence across the entire value chain—from exploration and production to processing and exports. This independence provides a solid foundation for future development and national progress.

During the recent conflict, Iran’s oil industry stood on the front lines of national resistance alongside the country’s armed forces. Despite the fact that oil and energy facilities were among the primary targets of enemy attacks, operations across the production, refining and distribution chains for crude oil, natural gas, petroleum products and petrochemicals continued without interruption. Even amid unprecedented military strikes on national energy infrastructure, fuel supply, gas distribution, oil production and exports continued uninterrupted. Through the efforts of the industry’s workforce, a record of resilience comparable to that of previous periods of national defense was achieved.

In the aftermath of the conflict, efforts to rebuild damaged facilities and restore lost oil and gas production capacity were carried out under a disciplined and carefully planned program. As a result, 30 million cubic meters per day of lost gas production capacity was restored, while 38% of damaged petrochemical capacity was brought back online. Crude oil production, storage and exports also continued at historically significant levels despite the extraordinary pressures imposed during the conflict. The full story of these achievements, the minister writes, will be shared with the Iranian people at an appropriate time.

Now that the threat of war has receded through the leadership’s guidance, public solidarity, resistance on the ground and the prudence of the president elected by the Iranian people, the oil industry will continue to follow the country’s strategic path. That means pursuing development, reconstruction and growth while remaining alert to potential challenges and hostile actions.

In the post-agreement era, Iran’s oil industry represents one of the largest investment and partnership opportunities available to the global economy. If the parties to the agreement in the West remain committed to its spirit, the oil sector will be the ultimate test of that commitment. Hundreds of investment opportunities have already been identified, and a range of contractual frameworks for financial, technical and operational partnerships is ready for implementation. Iran is prepared to review proposals swiftly and move promising projects into the execution phase.

At the same time, hundreds of capable and entrepreneurial Iranian companies have been identified as potential domestic partners for foreign investors. The Ministry of Oil is prepared to rapidly organize investment and development working groups to facilitate cooperation and accelerate project implementation.

Following the broader policy direction of the government and the president, the Ministry of Oil views the end of conflict as an opportunity not only for Iran’s advancement but also for promoting global peace through economic cooperation. The ministry remains committed to maintaining and expanding relations with longstanding partners, companies and countries that continued cooperating with Iran’s oil industry during the sanctions years.

However, the minister stresses that this openness to cooperation does not mean waiting passively for others or allowing foreign capital to become a substitute for domestic capabilities. Iran’s oil industry, which remained steadfast during 40 days on the front lines of conflict, will continue moving forward with dignity, confidence and vigilance. Foreign investment is welcome and Iran is prepared for it. But if such investment does not materialize, the industry will continue its path of development relying on Iranian expertise and determination.

Mohsen Paknejad, Iran’s Oil Minister

Source: Persian daily Iran