12
Oct

Second National Convention on Energy Law Opens in Tehran

 

TEHRAN Oct. 12 (Shana) – The two-day Second National Convention of Energy Law opened in Tehran on Monday by the Minister of Petrleum Bijan Zangeneh in a bid to discuss and find out ways on removing legal barriers in Iran’s oil, gas, and petrochemical industry.

The conference aims at facilitating domestic and international operation of the country’s oil and gas industry and also contribute to the performance of the public and private sectors, organizers told Shana.

Vice President for Legal Affairs Elham Aminzadeh, who is chairwoman of the conference, said Iran is going to sort out legal barriers on the way of development of the oil industry, urging the private sector to help the government in identification of the loopholes.

“If we prove successful in securing oil industry’s rights at international forums and in attracting of foreign investments, it will naturally strengthen the private sector,” she said.

Identification and screening out of the problematic rules will be discussed in one of the panels to be attended by experts.

Deputy Petroleum Minister Rokneddin Javadi has said that legal and contract departments have not kept in pace with achievements in the technical units.

“Laws which support financial sponsors must provide a secure atmosphere for domestic and foreign investors, while some of these laws have added to the bureaucracy and created more obstacles,” he said.

Javadi welcomed passing of laws which permit foreign investment but added that certain rules and monitoring agencies have acted as a hurdle on the development of projects.

The energy law convention is being held prior to the convention of twin conferences to introduce Iran’s new oil contracts to be held in Tehran and London on November 28-29 and February 22-24 respectively.

The London conference was postponed from December 2015 to February 2016 so that it will be held after removal of sanctions.

The Iran Petroleum Contracts (IPC) are expected to be more attractive to investors, officials said.

In the wake of nuclear deal in July, Iran has hosted high-ranking officials and corporate executives of major companies from Germany, Spain, Austria, Italy, and France to discuss new cooperation ventures.

In September, Minister of Petroleum Bijan Zangeneh welcomed foreign investment in Iran’s energy industry but said the Islamic Republic is interested in the technology transfer by foreign partners.

“More than cash or using the technology, we would like to have their advanced technology to be transferred to domestic companies,” he stressed.