Britain’s oil giant British Petroleum, which is known as BP, is waiting for cooperation with Iran in the oil and gas sectors once the Wes-led sanctions are removed against the country.
Michael Townsend, the head of BP for Middle East operations, said the British oil major will have surely an active presence in the conference for unveiling new model of Iran’s oil contracts, known as the Integrated Petroleum Contract (IPC), according to the Shana News Agency.
The conference is scheduled for October 29-30 in Tehran.
While expressing hope over expansion of BP’s cooperation with Iran in the future, Townsend said BP can participate in a wide range of activities such as transferring technical knowledge and bringing modern technology for the implementation of oil and gas projects in Iran.
He mentioned participation in the projects to boost the output of Iran’s brown fields as one of the areas for cooperation.
“For the time being, we are cooperating with Iran in the project of developing Shah Deniz II Gas field in Azerbaijan. Also, BP and National Iranian Oil Company have been partners since many years ago in the project to develop the North Sea’s Rhum Gas field “, the official further noted.
Global energy giants, which have been waiting for return to the Iranian market, now have a real chance to restore their activity in the Islamic Republic.
They are showing interest in a post-sanctions Iran, though most have said they're waiting on the wings.