Iran Oil Contractors Want Work Guarantees From Foreign Investors

From Bloomberg

By Golnar Motevalli

Iran’s association of oil-industry contractors and suppliers is seeking assurances it won’t lose business should foreign energy companies return to Iran.

“We’re not concerned about the presence of foreign companies here, we are concerned about how they will operate here,” Hasan Kazemi, a member of the board of the Society of Iranian Petroleum Industries Equipment Manufacturers said in a phone interview on Feb. 17.

The association will attend a seminar on changes to the country’s oil-investment contracts to be held on Feb. 22-23 in Tehran. Oil Minister Bijan Namdar Zanganeh will discuss with local and foreign industry executives rules that would govern oil and natural gas production should Western curbs on Iranian energy exports be lifted, allowing international companies back in the country.

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