IRAN HOLDS SECOND PETROLEUM & ENERGY CLUB CONGRESS AND EXHIBITION

The second edition of Iranian Petroleum & Energy Club Congress and Exhibition was kicked off on Monday October 17, 2016, in Tehran.

The three-day congress, focusing on strategies of development and investment in Iran’s petroleum and energy sectors, was attended by major oil and power actors, both international and domestic, in Olympic Hotel, west of Tehran.

Keynote speakers of the congress included Vice President Eshaq Jahangiri, Minister of Petroleum Bijan Zanganeh, and National Iranian Oil Company Managing Director Ali Kardor.

The opening keynote address was delivered by Vice President Eshaq Jahangiri who called for optimal development of Iran’s oil production and export in order to move forward with development. “Iran’s development is not possible without development of the oil sector” he said. Jahangiri also called for attraction of foreign investment and technology to further increase oil production.

Oil Minister Bijan Zanganeh, second keynote speaker of the congress, also highlighted the significance of developing Iran’s oil sector in speeding up domestic development and rendering Iran’s economy “extrospective” in interaction with the world.

“A combination of domestic and foreign investment and employment of cutting-edge technologies is needed to develop a large number of projects from downstream to upstream” he added.

The third keynote speaker of the congress, NIOC Managing Director Ali Kardor, addressed upcoming changes in the company’s strategies, including privatization and outsourcing of a number of activities. Kardor also spoke of plans to change the governance structure of NIOC in order to tailor the organization to post-sanctions circumstances. “Eleven domestic companies have been selected for E&P (exploration and production) … and they can vie for new oil contracts” he said.

MAPNA Strategic Planning & Control Vice President Alireza Yazdizadeh also addressed the audience on the second day of Iranian Petroleum & Energy Club Congress and Exhibition, addressing the current situation and necessities of the power industry in Iran.

“Foreign investors in petroleum and energy should look at Iran as an 80 + 300 million-strong market [of neighboring countries]” he said during an expert panel on significance of foreign and domestic investment. Reminding that Iran needs between 127 to 130 billion dollars of domestic investment and 28 to 54 billion dollars of foreign investment to realize its goal of eight percent GDP growth per year, Yazdizadeh stressed the need to increase foreign investment.

MAPNA’s Strategic Planning & Control Vice President added that the power industry managed to meet domestic needs and even export electricity and technical knowhow during the years of sanctions thanks to capabilities of domestic companies, while the oil sector faced hurdles in the same time span due to lack of required infrastructure and technology.

Pointing to MAPNA’s successful experience in partnership with reputed international companies and formation of joint ventures with European conglomerates, Yazdizadeh dubbed Iran’s rich gas resources and the high quality of its human force, academic institutions and knowledge-based companies as the country’s competitive advantages in the power market.