Although the development of renewable energy is a priority for the 14th administration, over 90% of the country's electricity still comes from fossil fuels. Meanwhile, the oil industry has not only met its own power needs through dedicated power plants but has also supplied surplus electricity to the national grid.

To ensure a stable power supply for the oil industry and help address the country's energy imbalance, the National Iranian Oil Company (NIOC) has introduced four power generation projects at the "Transformation in Investment and Development in Iran's Upstream Oil and Gas" event.

The opportunities, aimed at generating and transmitting 510 megawatt-hours of electricity, include four projects under the National Iranian South Oil Company, Arvandan Oil and Gas Company, Iranian Oil Terminals Company and the Lavan Special Economic Zone.

The National Iranian South Oil Company has presented a 400-megawatt project to investors. Arvandan Oil and Gas Company has proposed a 20-megawatt project, while the Iranian Oil Terminals Company and the Lavan Special Economic Zone have introduced 50- and 40-megawatt power generation projects, respectively, to attract investment.

At the event, NIOC presented over 200 opportunities to large, medium and small investors under various contract models.