Iran Drawing in French Oil and Non-Oil Investments

Iran Drawing in French Oil and Non-Oil Investments

Rokneddin Javadi, Iran’s deputy petroleum minister, announced that Tehran welcomes expansion of energy cooperation with the French oil giant Total, reported Press TV.

“National Iranian Oil Company welcomes expansion of cooperation with Total,” he said, adding that “Total has already voiced preparedness to sign new contracts with Iran”.

He made these remarks after a meeting with Arnaund Breuillac, the president of exploration & production at Total Company.

He also explained that “New agreements with foreign companies will be signed within the framework of Iran Petroleum Contract (IPC) which I think will be more attractive,” in reference to the announcement that the new model contract that will be unveiled earlier than original planned, in November instead of December.

According to Reuters a senior French economic and political delegation is heading to Tehran to lay the groundwork for the first business contracts between the two countries  since July’s accord over Iran’s nuclear program.

France’s main business lobby group, the Medef, is sending a delegation comprising more than 100 firms to Iran.

Small and medium French enterprises are also heading to Iran in agriculture, finance, luxury goods, pharmaceuticals, construction and transport.

Iran’s own President Hassan Rouhani is expected in Paris in November.


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