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A show of oil

Iran flaunts its energy prowess at a big exhibition

Iran flaunts its energy prowess at a big exhibition
(Sunday, May 14, 2023) 23:49

TEHRAN - As Iran prepares for a possible return to the international nuclear deal and the lifting of sanctions, it is keen to show off its oil and gas industry to the world. On May 17th it opens its 27th Oil Industry Exhibition, a four-day extravaganza that boasts more than 200 foreign firms from 13 countries.

The director general of public relations of the Ministry of Petroleum, Ali Forouzandeh, hailed the event as a unique ecosystem among developing countries. He said it demonstrated Iran's oil and gas sector, which he called the largest national asset and source of income for the country. He also praised Iran's achievements in producing industrial equipment and providing technical and engineering services for the oil industry, which he claimed were unmatched by other developing countries involved in oil and gas.

The exhibition is expected to attract senior domestic and foreign guests, including Alexander Novak, Russia's Deputy Prime Minister, who Mr Forouzandeh said would probably come to Iran. Iran and Russia will hold several joint panels and a business forum during the exhibition, as well as a large B2B meeting between Iranian and Russian companies before the opening of the event.

The exhibition will also feature 100 events, memoranda of understanding and contracts between various parts of the Ministry of Oil and private companies, as well as 10 specialised sessions on knowledge-based companies.

The exhibition will run until May 20th at Tehran International Exhibitions Center. It is a rare opportunity for Iran to showcase its energy prowess to potential partners and customers. But whether it will translate into more business deals and investment will depend on the outcome of the nuclear talks in Vienna.

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