Fereydoun Barkeshli noted that oil-rich countries recognize the limited window for production, development, and extraction. "In less than two decades, most oilfields will become residual reserves, making investment in this sector essential," he said.

On the event’s role in bridging upstream investment gaps, Barkeshli emphasized that while attracting capital and developing oil and gas upstream sectors depend on multiple factors, such events help draw attention and facilitate the transfer of advanced technology internationally. "Like Middle Eastern and Persian Gulf oil companies, which regularly hold international meetings, Iran must also engage in these efforts," he added.

 Energy diplomacy: A bridge for int’l convergence

The senior energy expert stressed that NIOC needs to redefine international frameworks to enhance its global standing. "Hosting the 'Transformation in Upstream Oil and Gas Investment and Development Conference' can help reshape Iran’s oil industry and national branding," he said.

On energy diplomacy’s role in attracting investors, Barkeshli stated, "Energy diplomacy is a continuous process, not a one-off effort. While the Foreign Ministry can assist, the core strategy must originate within the oil industry. Today, diplomacy is a vital tool for advancing any activity with international dimensions."

He cited examples like Qatar’s preparations for the FIFA World Cup and Saudi Arabia’s Aramco IPO as cases where diplomatic tools played a crucial role. "These experiences highlight the importance of coordination between the Oil and Foreign Ministries in building investor confidence," he said.

Barkeshli expressed hope that improving infrastructure, streamlining decision-making, and ensuring a secure environment for domestic and foreign investors could close the upstream oil and gas investment gap. "This event could be a positive step toward achieving the country’s strategic goals," he concluded.