Senior officials and corporate businessmen representing Iranian and French oil industry met on Tuesday to discuss investment opportunities in Iran’s post-sanction setting.
The French representatives constituting part of the 160-member delegation including Total and Technip who are headed by the agriculture minister and state minister for foreign commerce.
An official from the National Iranian Petrochemical Company explained investment opportunities in Iran’s petrochemical sector saying Iran welcomed the French in the joint ventures.
The roundtable happened one day after Iranian Minister of Petroleum Bijan Zangeneh and Total’s President of Exploration and Production Arnaud Breuillac met on Sunday.
France’s energy giant Total SA is ready to resume ties with Tehran in exploration, enhanced recovery, crude oil purchase, production, and marketing of LNG and petrochemical products as the bilateral cooperation roadmap will be outlined after sanctions on Iran are removed, an official in the Ministry of Petroleum said.
“The French firm is interested in buying crude oil from Iran,” Chairman of the Oil Contracts Committee at the ministry Mehdi Hosseini said.
Drafting the cooperation roadmap between Iran and Total depends on lifting of sanctions, Hosseini added.
French Foreign Minister Laurent Fabius traveled to Tehran only few days after a nuclear deal was reached between Iran and P5+1 group of world powers in Vienna on July 24.