Last month’s deal with world powers on Iran’s nuclear program paves the way for a return of international oil companies (IOCs) to what a high-ranking Iranian official terms an “investment paradise.” Meetings Iran has already held with a number of IOCs not only demonstrate this, but ensure that Iran is on an “irreversible” path to a complete lifting of the restrictions, he says.

“According to our preliminary data, foreign companies are keen to invest in Iran’s petroleum industry,” Mehdi Hosseini, an advisor to the Petroleum Ministry says in an interview with the Ministry’s Shana news agency. “[Petroleum Minister] Zanganeh’s meetings with oil companies, particularly European ones, has accelerated this trend, and convinced the world that the move towards the lifting of sanctions is irreversible. If not, oil companies would not be so willing to meet with Iran’s petroleum minister.” (CONTINUED - 1665 WORDS)