Ehsan Mirjafari noted that about three months ago, NIOC’s investment and business management division prioritized organizing an event focused on investment and development in Iran’s upstream oil and gas sector.

“In the past, we were never able to present investment opportunities collectively to investors in this way,” he said.

Initially, 350 projects and investment opportunities were identified by NIOC’s investment and business division. The list was later refined to include only transferable projects with the potential to move forward, resulting in 206 projects worth $135 billion, categorized into 15 groups.

Investment guidebook for oil industry published 

Mirjafari said the investment opportunities include oil and gas field development, pipeline and storage tank construction, support projects, and skid-mounted units, among others. For the first time, NIOC published a guidebook detailing all 206 investment opportunities.

“The message of this event to domestic and foreign investors is that NIOC’s approach to offering investment opportunities has changed,” he said. “By introducing incentives, we aim to build mutual trust between NIOC and investors in oil collaborations.”

He added that NIOC has “rolled out the red carpet” for investors in the industry.

Higher return on investment in oil projects 

Mirjafari said technical and financial specifications of the projects have been disclosed transparently for the first time. “We have also published contract terms and increased the return on investment from about 17% to 20-23% so investors can select projects in a clear and tangible environment.”

Extensive planning went into the event, with invitations extended widely to domestic and foreign guests. The response exceeded expectations, with around 2,000 Iranian participants from 1,000 companies, banks, investment firms, exploration and production companies, and contractors registering. About 80 foreign guests, including diplomats in Tehran and potential investors, also confirmed attendance.

Global interest in Iran’s oil industry 

Mirjafari said requests to attend the event came from more than 35 countries, demonstrating global interest in Iran’s oil sector. “The enthusiasm of foreign companies sent a clear message: the world is eager to engage in Iran’s oil industry.”

He noted that NIOC is streamlining contracts to ensure transparency and competitive conditions. “The goal is to attract the best investors under the best terms for Iran’s oil projects.”

The company has taken two major steps in revising its project transfer approach: identifying and transparently announcing investment opportunities, and developing solutions for project transfer, financing, and execution.

Oil industry incentive package approved by Economic Council 

Addressing challenges, Mirjafari said insufficient attractiveness in upstream contracts was a key issue. This week, an incentive package with 10 measures—including tax exemptions, higher investment returns, and shorter transfer periods—was approved by the Economic Council.

Another challenge is the limited experience and financial resources of Iranian companies compared to foreign competitors. To address this, a non-governmental Oil Industry Guarantee Fund was designed with €300 million in capital and participation from 20 partners, including commercial banks, exploration and production firms, the Energy Exchange, and NIOC.

The fund, which will soon be officially established, can issue guarantees for oil, gas, and petrochemical projects. Unlike traditional institutions like banks, it will accept oil contracts as collateral for the first time under a new financing framework approved four months ago by the Financing Council. This will allow Iranian exploration and production companies to obtain guarantees equivalent to bank guarantees, enabling them to secure capital market financing.