Russian firms submit investment plans in Iran

The re-election of Iranian President Hassan Rouhani for a second four-year term is expected to ensure continuing development of the country’s petroleum sector and global oil markets. Many International oil companies have announced joint ventures and memorandums of understanding (MOU) with Iran.

OMV, the international oil and Gas Company entered in Iran in 2001 as the operator of the Mehr exploration block in the western part of the nation.  In 2016, this company signed an agreement with NIOC to analyze the different Zagros-area fields in western Iran. The Ministry of Oil and Gas has listed 29 non-Iranian oil and gas companies as qualified to participate in upcoming exploration and production tenders.

According to the media reports, now the Russian companies such as Gazprom Neft, Zarubezhneft, and Lukoil have submitted their proposal plans to invest in several Iranian oil sectors to the National Iranian Oil Company (NIOC). The renowned company the Zarubezhneft also offered to enhance recovery at the Aban and West Paydar fields, while Gazprom Neft is targeting the Changouleh and CheshmehKhosh fields in Iran in the oil sector. Iran’s oil minister, BijanZanganeh said that their nation was prepared to sell oil to Russia.

These agreements show the huge potential of the Iranian oil and gas sectors. We see Iran becomes the manufacturing hub. For the impetuous development of oil and gas sectors, it also enhances the manufacturing industries. The demand for spare equipment is increasing higher in this nation.

SCION INDUSTRIAL ENGINEERING PRIVATE LIMITED became a brand name in the international market for supplying the industrial spare products and services. We are also associated with many other renowned companies in Iran for providing our services for twenty years. We ensure our customer ‘From equipment supply to asset care’. We are committed to supply the spare goods and the services that satisfy our customer’s highest expectations. SCION INDUSTRIAL ENGINEERING PRIVATE LIMITED stands for service, reliability, and transparency at the highest level. We have the expertise to meet your unique industrial challenges anywhere in the world.