French giants willing to invest in Iran’s oil industry

Iranian Deputy Oil Minister Ali Majedi announced that major French oil companies have voiced their willingness to invest in Iran’s oil industry. Speaking to FNA, Majedi pointed to the eagerness shown by the French companies to invest in Iran’s oil and gas projects, and said, “The companies that have negotiated with us are considered as the main group and include the three big (French) companies of Total, Technip and Gas Reform.” He underlined that giant oil companies are waiting for the removal of the sanctions imposed against Iran and they will return to the Iranian market as soon as the embargos are removed. On Tuesday, Majedi pointed to the advantages of investment in Iran for French entrepreneurs, and said, “Iran’s geopolitical situation and also its access to the open seas makes it a geopolitically suitable model in the region.” A large delegation of French businessmen with 140 members arrived in the Iranian capital on Monday morning to explore avenues for expanding all-out ties with Tehran, a senior Iranian trade official announced. On Monday, Iranian Foreign Ministry Spokeswoman Marziyeh Afkham welcomed the presence of a 140-member French economic delegation in Tehran, and described the move as one of the outcomes of the implementation of Iran-world powers nuclear deal which has persuaded so many foreign companies to look for a bigger share from Iran's lucrative market. Deputy Head of Iran's Trade Promotion Organization (TPO) Mehdi Mir Aboutalebi announced that the visiting delegation mainly consists of industrialists and economic activists from France’s car making, mining, commercial, oil, gas, petrochemical, water, electricity, aviation, railways, roads, maritime, cement, metal, medicine, IT, ITC, hotel management, financial institutes, banking, and tourism sectors. Mir Aboutalebi said the delegation is the largest ever to visit Iran from the European countries since the 1979 Islamic Revolution. He further added that the French delegation, during its 3-day-long visit, is slated to have separate meetings with President's Chief of Staff Mohammad Nahavandian and Head of Foreign Investment Organization of Iran Behrouz Alishiri over the enhancement of mutual cooperation between the two friendly countries. Mir Aboutalebi went on to say that over 400 Iranian and French industrialists and businessmen are to participate in the Iran-France Conference which was inaugurated by Iranian Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh on Tuesday. Technip SA is a company that does project management, engineering and construction for the energy industry. Total SA is a French multinational integrated oil and gas company and one of the six “Supermajor” oil companies in the world.