Iranian Offshore Oil Company (IOOC) managing director announced that oil investment opportunities worth $20 billion are available in the Persian Gulf.
According to Mehr News Agency, Managing Director of the Iranian Offshore Oil Company (IOOC) Saeed Hafezi described the most important oil and gas investment opportunities in the Persian Gulf region stating, "Currently, a series of talks have been conducted with European and Asian companies on the implementation of new oil and gas projects in the Persian Gulf as well as the Strait of Hormuz."
He highlighted that negotiations have been held with Italy's Eni, France's Total as well as an Austrian company. He however noted, "Despite consultations, no contract has yet been sealed."
The official further said investment opportunities in the oil and gas industries in the Persian Gulf reaches about $15-$20 billion and "a portion of the investment pertained to the expansion of new oil and gas fields which is being pursued by Pars Oil and Gas Company (POGC)".
"Meanwhile, the rest of the negotiations deal with development of old and ongoing fields," underlined the official asserting, "The most important goals include increasing the recovery factor of production in compliance with the preservation principles."
Hafezi also described some new investment opportunities in Iran's oil and gas industry including expansion of Soroush, Norouz, Abouzar, Hengam, Doroud in addition to a number of other joint oil and gas fields.
IOOC managing director had earlier said all new oil projects will be carried out with increased production from joint fields as top priority.
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