OPEC takes part in latest successful instalment of Iran Oil, Gas, Refining and Petrochem exhibition

Entrance OPEC Headquarter ViennaEntrance of the OPEC Headquarters building in Vienna, Austria. (Image source: Vincent Eisfeld/Commons)OPEC took part in IR Iran’s International Oil, Gas, Refining, and Petrochemical Exhibition 2017, which concluded Tuesday 16 May in Tehran

The four-day event featured around 2,500 domestic companies along with 1,500 foreign firms from 37 countries, including China, Germany, South Korea, Austria, Australia, Italy, the Netherlands, France, Britain, the US and Canada. It was spread out over 25 halls and covered 80,000 m2.

Opening the annual exhibition, the 22nd such event held so far, IR Iran’s Petroleum Minister Bijan Namdar Zanganeh welcomed participants and commended the recent successes of IR Iran in the international oil industry, including the doubling of capacity of South Pars fields and the switch from being a gas importer to becoming a gas exporter.

Parliamentary Speaker Ali Larijani spoke about the role of geopolitics, saying that although regional security is a serious issue, IR Iran is very safe. He added the Parliament is going to try and do its part to ensure policies are favorable for exploration and investment.

Oil Ministry’s Public Relations Director General Kasra Nouri said in an OPEC interview that applications from 800 local and international exhibitors had to be turned away because they could not be accommodated.

In the last six or seven months, since the Ministry’s new contract formula has been presented, 27 Memorandums of Understanding have been signed with countries such as Italy, Austria, Russia, Japan and the Philippines; four of these have been signed so far at the exhibition, primarily for oil field developments, he said.

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