NIOC Head: $160bn on Offer in Iran Oil Show for Investment

TEHRAN (Shana) – Iran has offered a chance to participants in the 26th International Oil, Gas, Refining and Petrochemical Exhibition to channel $160 billion in investments in the upstream sector of the country’s oil industry, said a high-ranking official in Tehran on Friday.

Talking to Shana, the National Iranian Oil Company (NIOC) managing director added that his country enjoys a special status in terms of holding international oil exhibitions, as Iran, thanks to its hydrocarbon reserves, ranks first in the world.

Given its widespread transfer and transit infrastructure, Iran has easy access to underground resources, boasted Mohsen Khojasteh-Mehr, continuing, “Sustainable energy supply is of great importance in today’s world, and this is exactly one of the main features of the Islamic Republic’s sovereignty.”

Elaborating on the country’s capacities, the NIOC head said Iran can meet a considerable portion of the global energy need or transport it to the four corners of the world.

The 26th edition of the exhibition, aka Iran Oil Show 2022, has focused on the motto of the current Iranian calendar year “Production: Knowledge-Based and Job-Creating” designated by Leader Ayatollah Seyyed Ali Khamenei, explained Khojasteh-Mehr, adding the initiative has been highly welcomed by its participants.

According to the official, 100 knowledge-based firms and 20 top universities supported by the exhibition organizers have taken part in Iran Oil Show, playing a major role in the international event.

Khojasteh-Mehr said the National Iranian Oil Company will hold numerous rounds of negotiations with the participating companies during the four-day exhibition.

Iran Oil Show, which opens Friday, is hosting 1,200 Iranian and 44 foreign companies or their agents.

The companies and other participants are showcasing their latest achievements and products in 908 pavilions, of which 815 are the stands for companies, 23 for universities as well as scientific and research centers, and 70 for knowledge-based firms, startups, and industrial parks.

News ID 456730


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