Hassan Peyvandi confirmed that a series of talks with Shell Oil Company officials has taken place this week in Tehran, adding the talks focused on the company’s participation in Iran’s new petrochemical projects as well as the prospect of new investments with regard to the future capacity of the petrochemical industry in Iran.
Royal Dutch Shell plc said on June 3 that it was discussing the repayment of an outstanding debt of over $2 billion with Iran when international sanctions are lifted.
The debt stems from Iranian oil deliveries that Shell was unable to pay due to sanctions.
Shell’s Chief Executive Ben van Beurden also said “the moment the sanctions regime has changed, we will look at opportunities in Iran.”
Earlier this month, an Iranian Petroleum Ministry official announced that several top Ads European energy corporations have voiced interest in the new format of oil contracts with Iran.
Progress in nuclear talks between Iran and the 5+1 group of countries has triggered hopes that Western oil companies will return to Iran once a nuclear agreement is reached.
Iran and its negotiating partners have been working on the text of a final deal since they reached a mutual understanding on key parameters of such a deal in the Swiss city of Lausanne on April 2.
Representatives of Iran and the six countries wrapped up their latest round of deputy-level talks aimed at bridging differences over the final text of the comprehensive deal in Vienna on Saturday.