20 Jul 2024
Wednesday 7 October 2015 - 23:22
Story Code : 183600

Shell interested in Iran energy projects

Global energy giant Shell has voiced interest in Irans oil and gas projects but says it is still too early to speak of any specific plans.

Shell CEO Ben van Beurden has told the Oil & Money conference in London that Iran is an interesting country in terms of geological structure, and there are interesting prospects for investments in the countrys energy projects.

Van Beurden also emphasized that his companys plans in Iran will depend on how the Iranian market develops in the short-term, the investments required and the general situation in the country.

He further confirmed that Shell is engaged in negotiations in Iran but emphasized that the talks are mainly focused on settling of the companys debts to the National Iranian Oil Company (NIOC), Russias Sputnik news agency reported.

Irans media earlier reported that a delegation from Shell arrived in Iran last Friday for talks with the countrys oil officials.

The delegation was also scheduled to have separate meetings with Irans key banks, the Iran-UK Chamber of Commerce, the Tehran Stock Market, the Ministry of Industries, Mines, and Trade.

Shell has not been involved in any major oil and gas project in Iran over the past decade mostly as a result of the US-engineered sanctions that barred international corporations from the countrys energy projects.

Nevertheless, it was involved in the development of the Persian Gulf oil fields of Soroush and Norouz and was tipped to develop Persian LNG in South Pars a project that was eventually scrapped mainly because of the sanctions.

The media had earlier reported that Shell together with Total have received the license to establish 100 gas stations each across Iran thus becoming the first foreign companies ever to win access to Irans retail energy market.

By Press TV
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