Who is expected to attend the Iran Oil and Gas Show 2016, will US Firms show up for this event?
21st International Oil, Gas, Refining & Petrochemical Exhibition (IOGRPE 2016)
Date: 5-8 May 2016
Venue: Tehran International Permanent Fair Ground – Tehran-Iran
21st International Oil, Gas and Petrochemical Exhibition displayed a wide range of technical and industrial abilities of the Islamic Republic of Iran and other countries worldwide in the area of Oil, Gas and Petrochemical. More than one hundred years of Iran’s history is intermingled with the world‘s oil industries publications. This exhibition displayed the latest the latest advancements in the oil industries and related technical services worldwide.
Tehran will host 1,787 domestic and foreign companies in the 21st International Oil, Gas, Refining and Petrochemical Exhibition of Iran (Iran Oil Show 2016), which will be held from May 5 to 8, said an official with the National Iranian Oil Company (NIOC).
“Some 996 domestic companies and 634 foreign ones from 35 countries, as well as 157 representatives of foreign companies in Iran will take part in the event,” NIOC public relations director Mohammad Nasseri said, hailing the return of prominent international companies to Iran, the IRNA news agency reported on Wednesday.
“This is the country’s first oil show in post-sanction era and number of foreign participants has notably increased,” he underlined. As he added, China, South Korea, Turkey, Germany, Spain, Italy, France, Austria and Finland are among the countries that plan to set up their special pavilions in this show, which will be held at Tehran Permanent International Fairground.
Will US Firms show up for this year’s expo?
Last year it was expected that US Firms will attend the Tehran Oil Contracts Conference, this year’s expo is being held after the sanctions have been lifted, so we await to see if any US Firms officially attend the exhibition.
In a news article from Tehran Times, we read: “Cooperation with foreign industrial and trade firms will not only be economically beneficial, but it will also help reduce political differences. This hold true for the US and other countries including our neighboring countries,” said the ministry’s deputy for commerce and international affairs, Amir-Hossein Zamani-Nia.
“Considering the opportunities for investment in Iran’s oil industry, companies from Austria, Italy, Germany, France, Spain and UK have started negotiations with Iran,” he said, “One of the conditions laid in the new contracts is assignment of an Iranian company as the partner of the foreign firm.”
Managing Director of the National Iranian Oil Company (NIOC) Rokneddin Javadi said, “There is still no clear picture about US firm’s participation, but the chance cannot be ruled out.” We read this in an article published October last year on Shana Oil and Gas News Agency.
“The government has laid no limitation for their participation, and cooperation with the US firms will be possible within the Iran Petroleum Contracts,” he added. The Tehran event is expected to be embraced by foreign firms longing for participation in Iran’s oil industry in the post-sanction era.
The new contracts called Iran Petroleum Contract (IPC) will be more attractive, Petroleum Minister Bijan Zangeneh said earlier. He said Iran welcomes foreign investment in its energy industry, but stresses technology transfer by foreign partners.
President Hassan Rouhani has also urged US companies to invest in Iran saying the country’s enormous energy reservoirs and its geopolitical location at the crossroads of China, Central Asia, and the Oman Sea as well as the level of security and stability in the region have provided unique conditions for trade with the Islamic Republic. Rouhani who was in New York in September to attend the United Nations General Assembly and the UN Sustained Development Summit, in a meeting with US corporate representatives said Iran has not banned US companies from doing trade in Iran.
US firms in a competitive setting can use the post-sanction conditions and invest and transfer technology to Iran, the president said. Prior to his departure to the UN, President Rouhani said investors from US private firms can be active in Iran’s economy adding joint ventures and exchange of technology between Iranian and US private sectors can stabilize the nuclear deal.
“Iran’s economic atmosphere is open for Americans and Europeans to come here and to have economic activities together. Americans, too, can come to Iran for investment and exchange of technology,” he told CBS’ 60 Minutes program.
Partnership with Iranian Firms
As mentioned in the news above, due to Iranian Business Culture and Pride, Iranians will partner up and join Foreign Companies only if the technology is transferred. A proprietary issue that companies usually don’t like to share with their competitors. At Pmanagers.Org we have come up with ways to make a compromise and protect the interest of both sides during our negotiation sessions. We will ensure the proper setting is achieved for foreign firms to offer services and products as well as use of Iran’s advantages in producing and expanding their future. On the other hand, Iranian Firms will partner up with their counterparts to ensure the product is correctly adopted to Iran’s Market as well as creating jobs and opportunities for Iranian population as part of social participation of Foreign Companies entering the Iranian Market.
Are you planning to attend Iran Oil and Gas Show 2016?
If you are planning to attend Iran Oil and Gas Exhibition this year, don’t hesitate to contact us for more information on services we offer to companies for better results. It is important for a foreign company to have assistance from local consultants to achieve the maximum benefit for it’s short visit to a new region. We are here to help!