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Iran’s Oil Ministry this week set the wheels in motion for the country’s highly-anticipated upstream opening after having appeared to settle on a date for a much-publicized London roadshow, at which it plans to officially unveil its new oil and gas investment terms.
After months of confusion and conflicting statements over when the event would be held, the oil ministry has finally decided on 14-16 December, with conference organizer CWC Group seemingly formalizing the decision by sending out online invitations for the event on 28 July.
With sanctions on its energy sector set to be lifted, should the landmark nuclear accord signed earlier this month go through and both sides make good on their commitments, Iran is targeting investment of around $200bn to breathe new life into its key oil and gas industry - the lifeblood of the Iranian economy. (CONTINUED - 1172 WORDS)