Tehran (IP)- Iran has offered a chance to participants in the 2020 Oil Show to channel $160 billion in investments in the upstream sector of the country’s oil industry, said the National Iranian Oil Company (NIOC) managing director in Tehran on Friday.

Iran PressMiddle East: Speaking at the 26th International Oil, Gas, Refining and Petrochemical Exhibition, NIOC's managing director Mohsen Khojasteh-Mehr added that his country enjoys a special status in terms of holding international oil exhibitions, thanks to its hydrocarbon reserves, ranks first in the world.

The exhibition kicked off during an opening ceremony at Tehran’s Permanent Fairground on Friday and will run through Monday, May 16.

Given its widespread transfer and transit infrastructure, Iran has easy access to underground resources, said Mohsen Khojasteh-Mehr, continuing, “Sustainable energy supply is of great importance in today’s world, and this is exactly one of the main features of the Islamic Republic’s sovereignty.”

Elaborating on the country’s capacities, the NIOC head said Iran can meet a considerable portion of the global energy need or transport it to the four corners of the world.

The 26th edition of the exhibition, aka Iran Oil Show 2022, has focused on the motto of the current Iranian calendar year “Production: Knowledge-Based and Job-Creating” designated by Leader Ayatollah Seyyed Ali Khamenei, explained Khojasteh-Mehr, adding the initiative has been highly welcomed by its participants.

According to the official, 100 knowledge-based firms and 20 top universities supported by the exhibition organizers have taken part in Iran Oil Show, playing a major role in the international event.

Khojasteh-Mehr said the National Iranian Oil Company will hold numerous rounds of negotiations with the participating companies during the four-day exhibition.

The four-day exhibition will host 1,200 Iranian and 44 foreign companies or their agents.

Apart from domestic participants representing Iran, foreign companies are from Italy, Spain, the United Arab Emirates, South Korea, Switzerland, Germany, Ukraine, South Africa, and Belgium.

The companies and other participants are showcasing their latest achievements and products in 908 pavilions, of which 815 are the stands for companies, 23 for universities and scientific and research centers, and 70 for knowledge-based firms startup industrial parks.

In addition, 27 expert-level sessions revolving around the topics of “knowledge-based firms, energy policymaking, future of gas market, new means for financial supply, and other main issues in the oil industry” will be held.

Eight of the expert-level sessions will shed light on the oil industry’s needs in upstream and downstream sectors, calling for the participating knowledge-based firms to help meet them.


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