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Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel

New Total Contract Proof of Nuclear Deal Efficacy

There are many things in Iran foreign investors flush with capital and world-renowned companies with updated knowledge find appealing.

Parvin FaghfouriAzar

Parvin FaghfouriAzar

Energy Today Senior Reporter

The deal Iran and Total have signed of late is a turning point that, on the one hand, proves the efficacy of the nuclear deal Iran struck with world powers in 2015 and, on the other, shows that hurdles standing in the way of doing business with Iran are being cleared.

Seyyed Emad Hosseini, a former deputy oil minister for engineering and an adviser to the petroleum chief, hailed the Total contract as a very important source to secure the flow of foreign investment into the country in order to complete major oil projects and said in keeping with the win-win logic of the 11th government, the renewed trust the public has placed in the government is a harbinger of remarkable breakthroughs to come on economic and commercial fronts.

He said he believes the Total contract breaks the taboo associated thus far with contribution by world-class companies to the development of Iran's oil industry and paves the way for the inflow of more foreign investment down the line.

He said there are many things in Iran foreign investors flush with capital and world-renowned companies with updated knowledge find appealing. Restrictions caused by sanctions and a decision on how to re-launch joint operations were the biggest obstacles. Despite problems, Iran Petroleum Contract, a new model put forth by the Oil Ministry to develop the country's upstream industries, secured the go-ahead of the government. Fortunately, the first contract clinched under the new model has been signed with a consortium led by Total.

He said what is heartwarming is that members of the public have consciously voted for the continuation of the policy of moderation and rationality which took root when the 11th government was in office. “Given that economic, political and social conditions on home front have relatively improved and there has been headway as far as international business and relations are concerned, it is my hope that in the years to come the way is paved for the country's sustainable development, progress and welfare. To that end, the role of Cabinet members, who serve as macro decision-makers, and middle management at executive bodies, who are micro decision makers, is of great importance. I also hope unity in the ranks of the 12th government paves the way for additional progress and welfare in the country.”

On the energy front too, more meetings of the Supreme Energy Council should be held to work out cohesive policies and create synergy among executive bodies such as the ministries of oil and energy, which have both come a long way in setting the stage for absorption of foreign investment and interaction with world-class companies. One should not forget the fact that over the decades the oil industry has always been an economic leader and driver of development in the country, so all state institutions, including the executive and legislative branches of government and other organizations, should throw their weight behind sound decisions and wisdom-oriented development, Emad Hosseini concluded.

           

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Parvin Faghfouri Azar
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New Total Contract Proof of Nuclear Deal Efficacy

There are many things in Iran foreign investors flush with capital and world-renowned companies with updated knowledge find appealing.
Parvin Faghfouri Azar
The deal Iran and Total have signed of late is a turning point that, on the one hand, proves the efficacy of the nuclear deal Iran struck with world powers in 2015 and, on the other, shows that hurdles standing in the way of doing business with Iran are being cleared.Seyyed Emad Hosseini, a former deputy oil minister for engineering and an adviser to the petroleum chief, hailed the Total contract as a very important source to secure the flow of foreign investment into the country in order to complete major oil projects and said in keeping with the win-win logic of the 11th government, the renewed trust the public has placed in the government is a harbinger of remarkable breakthroughs to come on economic and commercial fronts.He said he believes the Total contract breaks the taboo associated thus far with contribution by world-class companies to the development of Iran's oil industry and paves the way for the inflow of more foreign investment down the line.He said there are many things in Iran foreign investors flush with capital and world-renowned companies with updated knowledge find appealing. Restrictions caused by sanctions and a decision on how to re-launch joint operations were the biggest obstacles. Despite problems, Iran Petroleum Contract, a new model put forth by the Oil Ministry to develop the country's upstream industries, secured the go-ahead of the government. Fortunately, the first contract clinched under the new model has been signed with a consortium led by Total.He said what is heartwarming is that members of the public have consciously voted for the continuation of the policy of moderation and rationality which took root when the 11th government was in office. “Given that economic, political and social conditions on home front have relatively improved and there has been headway as far as international business and relations are concerned, it is my hope that in the years to come the way is paved for the country's sustainable development, progress and welfare. To that end, the role of Cabinet members, who serve as macro decision-makers, and middle management at executive bodies, who are micro decision makers, is of great importance. I also hope unity in the ranks of the 12th government paves the way for additional progress and welfare in the country.”On the energy front too, more meetings of the Supreme Energy Council should be held to work out cohesive policies and create synergy among executive bodies such as the ministries of oil and energy, which have both come a long way in setting the stage for absorption of foreign investment and interaction with world-class companies. One should not forget the fact that over the decades the oil industry has always been an economic leader and driver of development in the country, so all state institutions, including the executive and legislative branches of government and other organizations, should throw their weight behind sound decisions and wisdom-oriented development, Emad Hosseini concluded.           
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