‘32 European SMEs ready to enter Iran’s oil industry’

November 4, 2019

TEHRAN - Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA)’s energy committee says 32 European small and medium-sized enterprises (SMEs) have expressed readiness for participation in Iran’s oil and gas projects.

“These companies are demanding guarantees from the Oil Ministry for cooperation with Iranian companies,” Reza Padidar told IRNA. 

According to the official, the companies are from Italy, Spain, Greece, Poland, Britain, Germany, the Netherlands and Romania.

As reported, TCCIMA’s energy committee has been negotiating with foreign delegations visiting the country in the past 18 months, which has resulted to a listing of 114 capable companies which could collaborate with Iranian counterparts in oil and gas projects.
“Finally [of the mentioned 114 companies] 32 companies have announced their readiness for cooperation with us in the country’s oil and gas projects and also for transferring technical knowledge as well as providing investment,” he said.

Mentioning the companies’ request for the Oil Ministry’ guarantees, Padidar said that the issue has been raised with the Oil Minister Bijan Namdar Zanganeh and the Oil Ministry’s Engineering, Research and Technology Department is to review the Iranian companies which are going to form partnerships with the mentioned European SMEs so that their activity could be guaranteed after approval.

The official further noted that the payment for the companies’ services will be done through Instrument in Support of Trade Exchanges (INSTEX) and most of the SMEs have also agreed on being paid in the form of bartering deals.

EF/MA

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