Iran: $150 billion investments for the Oil and gas industry

The Oil and gas and petrochemical sectors are the ones that will benefit the most of the end of the sanctions, according to many analysts.

Here there’s a focus on Iran written by SACE:

The recovery of the international relationship with Tehran had an immediate positive effect on the oil industry: the oil industry is one of the most affected by international sanctions and the one in need of the most investments.

According to Claudio Descalzi, Eni’s chairman, Iran will need about $150 billion in investments in the next 4/5 years, and it is changing contract conditions in order to attract important foreign businesses. He stated that the country should develop an appropriate technological infrastructure.

And President Hassan Rouhani says Iran welcomes Italian companies in its oil and gas sector which has a massive development plan worth, according to the President, $185 billion in the post-sanction era.

“Considering that some Italian firms have had cooperation with Iran in oil, gas and heavy industries, the ground is more prepared for their operation in Iran’s economy,” Rouhani told Italian Prime Minister Matteo Renzi in New York in last September.

This 2016 is expected to be a key year for such investments.