Siemens is planning huge investment in Iran's oil and gas industries, said vice president for oil and gas of Siemens Industrial Application Division.
Peter Adam further said that Siemens is looking for a total investment of $100 million in Iran's energy projects, Shana reported.
"We are really surprised by the skill of manpower, the quality of work and its details as well as reasonable price of services in Iran are really extraordinary, when compared with other countries," the senior Siemens official said, adding that good quality, good price and efficient manpower make Iran an ideal place for investment by foreign oil companies.
In a relevant development in March 2016, the Iranian industrial group MAPNA and the German equipment manufacturer, Siemens, signed a contract worth $3.5 billion.
Elaborating on a visit by a high-ranking Iranian economic delegation, headed by Energy Minister Hamid Chitchian, to Berlin, Deputy Head of Iran's Chamber of Commerce Pedram Soltani said several German companies have shown interest in cooperation and investment in Iran.
"A contract was endorsed between the Siemens and MAPNA companies worth $3.5 billion," he added.
Soltani also said that in addition to negotiations with other German firms, Tehran is also in serious talks with Bosch company to produce home appliances in Iran.
Siemens released the first cargo of properties Iran had ordered for development of South Pars Gas Field before the sanctions intensified in 2012, an operator of some phases of the field said late February.
Hassan Boveiri, developer of phases 17 and 18 of the supergiant South Pars Gas Field, said Siemens released a cargo of compressors and turbines which will be installed at phases 17, 18 and 12 of the gas field.
Siemens blocked delivery of a number of items to Iran after US-led sanctions intensified in 2011.
Following a meeting between Iranian Oil Minister Bijan Namdar Zanganeh and Siemens officials in February, Siemens agreed to release the blocked properties to Iran after the sanctions were lifted.
The properties had been blocked in the Port of Jebel Ali in the UAE and the Netherlands for three years.
The second consignment of the items which will include electro-compressors for phases 17, 18, 6 and 12 of South Pars will be delivered to Iran soon.