Germany to partake in upstream oil industry

Germany to partake in upstream oil industry

Germany to partake in upstream oil industry


After a meeting with former German Chancellor Gerhard Schroeder on Tuesday, Iranian Minister of Oil Bijan Zanganeh announced Germany's readiness to get involved in the upstream sector of the country’s oil industry also known as exploration and production (E & P) sector; “Germany has had active participation in the Iranian oil industry which will now get promoted to the upstream sector as well.”
“Capabilities and interests of Iran for cooperation with German companies were presented to the high-ranking delegation at the meeting,” he added.
Zanganeh further noted that “necessary points as well as proper investment opportunities were discussed with members of the delegation emphasizing the need for having an Iranian partner in order to achieve greater success in Iran’s market.”
“Possible venues of cooperation between the two countries were discussed with regard to various oil and gas sectors including petrochemicals, refinery, distribution, drilling, energy consumption efficiency as well as environmental issues,” underlined oil minister urging the German government to provide satisfactory insurance coverage for the activities of the European country in Iran.

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