Director General for Europe, US, Caspian Sea littoral states of Petroleum Ministry Hossein Esmaeili announced interest and readiness of Portuguese companies to participate in Iran petrochemical and refinery projects.
He said that the most important axis of negotiation between Deputy Petroleum Minister Hossein Zamani-nia and Portugal Deputy Foreign Minister Jorge Costa Oliveira in Tehran was opportunities for investment in Portugal and Iran in the sectors of petrochemical and refinery.
By lifting sanctions imposed against Iran, foreign companies may invest in Iran, he said.
The director general said that cooperation between the two countries is now in the phase of study and more negotiations will be held by the National Iranian Oil Refinery and Distribution Company (NIORDC).
He said that the Portuguese ISQ Company, which is active in the field of project management and services for oil refineries, was working in Bandar Abbas and Shiraz refineries in years 2008 to 2010.
Esmaeili said that Portuguese companies expressed hope that by expansion of banking relations, ground for cooperation in the field of energy to be prepared and facilitated.
One of directors of the ISQ Company had already said that removal of sanctions had created a big opportunity for participation in Iran's oil industry and now it is the best time to attend this market.