The Society of Iranian Petroleum Industry Equipment Manufacturers is inviting small and medium enterprises (SMEs) in the energy sector to attend a Tehran seminar and discuss with Iranian companies the possibility of undertaking joint ventures, head of the SIPIEM said.
So far “110 small and medium-sized European firms have shown interest in cooperating with Iranian companies in the oil and gas sector,” Reza Khayyamian said, ISNA reported.
He did not provide names and other details about the SMEs nor elaborate on the date of the meeting.
"SIPIEM in collaboration with Tehran Chamber of Commerce, Industries, Mines and Agriculture is making efforts to bring the companies to familiarize them with the capabilities of Iranian firms and encourage them to join in carrying out oil and gas projects," he said.
While major European companies are reluctant to do business with Iran due to the unilateral US sanctions, Iran is assessing ways to sustain its energy programs in collaboration with smaller foreign companies.
According to NBC News, European countries are plotting ways to bypass US President Donald Trump's sanctions on Iran as they work to keep the nuclear deal alive without the US.
With a second round of US sanctions set to take effect on November 4, European officials are working at cross-purposes with Trump's "maximum pressure" campaign as they try to preserve as much business as possible with Iran.
Among the creative workarounds is devising an alternative - free from US influence - to the current electronic system that can be used to transfer money from place to place. Since commercial banks must stop handling transactions with Iran or face US penalties, European nations are considering using their own central banks to transfer funds to Iran, wagering that Trump wouldn't go so far as to sanction an ally's central bank.
