A delegation of oil dealers and investors from the US are scheduled to have a business tour of Iranian oil industry and meet with Iranian authorities during the current week. American investors are scheduled to meet with authorities, commissioners and executives of oil companies while in Iran.
Deputy Oil Minister of Iran Abbas Sheri-Moghaddam confirmed the news and predicted more cooperation with US big companies and refineries on Iran’s oil and gas projects after the removal of sanctions.
He also announced that some European-American companies have stepped forward for participation in new petrochemical projects in Iran and added that Iran is now bargaining with companies from Germany, Italy and the Netherlands who are willing to invest in petrochemical projects of Iran.
In response to a question about legal restrictions for American companies in Iran Sheri-Moghaddam explained that to invest in Iran, companies are required to register an Iranian company and as a result there is no boundary for foreigners to invest in Iran.
The Islamic Republic and the 5+1 – the US, the UK, France, Germany, Russia and China – reached a mutual understanding on April 2 in the Swiss city of Lausanne, which is considered a prelude to the achievement of a comprehensive deal before a self-designated deadline at the end of June. A key point of Lausanne statement is lifting sanctions imposed on Iran as soon as reaching an agreement – including those on the country’s oil industry.
Following the Lausanne statement, Iran's oil industry officials said international companies have stepped forward to taking up projects in the country’s oil industry. A number of international oil giants have voiced interest in returning to Iran's oil and gas sector, including Italy's Eni, France's Total and Royal Dutch Shell. The companies’ executives have said they are already looking into Iran's post-sanctions business potentials.
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