Technology Transfer Tops Oil Industry Priorities

Technology Transfer Tops Oil Industry PrioritiesTechnology Transfer Tops Oil Industry Priorities

The main priorities in negotiations with international giants are transfer of advanced oil and gas technology and support for the private sector, said Amir Hossein Zamaninia, Iran's deputy oil minister for international and commercial affairs, on Monday.

"We will select our future partners based on the priorities set by the oil minister, not companies' personal interests," he said, Fars News Agency reported.

"No projects have been offered to foreign enterprises yet, despite the fact that they are willing to not only finance but also to implement them."

The official stressed that developing domestic oil industry's capabilities is more crucial than the much-needed fund since companies that implement projects will take care of the financial issues.

Asked whether sanctions have been suspended or lifted, Zamaninia said, "According to the Joint Comprehensive Plan of Action's terms, sanctions have already been terminated and they will take effect in a few months. Hence, there is no potential risk involved, as long as Iran fulfills its commitments."