NIOC Sets Condition for Foreign Firms Eyeing Oil, Gas Project

National Iranian Oil Company (NIOC) has set certain conditions for companies interested in participating in its oil and gas projects.

“In addition to observing the health, safety, and environment (HSE) standards, the foreign parties are required to increase the role of Iranian manufacturers and industrialists in the oil and gas projects,” Rokneddin Javadi, Managing Director of NIOC, told state owned news agency Shana.

Technology transfer is another important demand on foreign partners, he said. “If they are interested in investing in manufacturing of goods in Iran, we will definitely welcome their initiative.”

“We are not merely thinking of oil and gas fields,” Javadi added, “Rather we need the development of appropriate infra-structures.”

Iran unveiled the Iranian Petroleum Contract (IPC) in Tehran in November. A follow-up conference will be held in London in February.