News ID: 170346
Published: 0723 GMT October 15, 2016

NPC eyes Shell direct investment soon

NPC eyes Shell direct investment soon

Ground is being paved for direct investment by Royal Dutch Shell in Iran's energy and petrochemical projects and the company will soon invest in Iran, said the head of the investment department at National Petrochemical Company (NPC).

Hossein Alimorad told Shana that Shell had to suspend its activities in Iran because of the sanctions but has indicated its willingness to return to the oil-rich country now that the US-led embargoes are being lifted thanks to the implementation of the nuclear deal, called the Joint Comprehensive Plan of Action (JCPOA), with the P5+1.

Last week, NPC and Shell inked a letter of intent to start discussions on renewal of petrochemical and energy-related activities in Iran.

"The deal does not specify any activities so not to limit its range," he added. Based on the document, the two sides will indicate their willingness to cooperate in any field they are interested in.

Prior to the sanctions, Shell operated in gas-to-liquids projects in Iran, he added, expressing hope that the unfinished projects will be considered in the new round of Shell activities and investment in Iran.

   
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