Mohsen Paknejad spoke to reporters Thursday during an unannounced visit to halls 8 and 9 of the 29th International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2025).

He stated that Iran has significant capacity in manufacturing equipment and providing services across upstream and downstream sectors, adding that the exhibition offers an excellent opportunity for buyers and service providers to connect, negotiate, and pave the way for contracts.

Emphasizing the need for improved financing and investment conditions in the oil industry, Paknejad said that over the past nine months—since the start of the 14th administration—the Oil Ministry has worked to remove obstacles in the traditionally complex and time-consuming contract process.

The minister noted that a framework has been established to enable greater private sector participation in projects and showcase their achievements. This approach, alongside procedural reforms, can accelerate project development and attract investors.

The 29th International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2025) runs for four days starting May 8 at the Tehran Permanent International Fairgrounds.