30 Countries to Attend Iran’s Upstream Oil Investment Transformation Event

Representatives from 30 countries across Europe, South America, Asia and Africa have expressed readiness to attend Iran’s Upstream Oil and Gas Investment Transformation event.

The oil industry is the most capital-intensive sector in Iran and the world. The nature of this industry requires significant investment—from exploration to oil and gas production—while the necessary technologies are often expensive. To ensure Iran’s oil sector keeps pace with global development, investment in this field must remain an economic priority.

Oil is a key economic driver in Iran, contributing more to GDP than any other sector. There is also a positive correlation between oil and economic growth—when oil production and exports of "black gold" rise, so does economic growth. Conversely, declines in production and exports, often due to unilateral sanctions, negatively impact economic growth.

To achieve the 8% economic growth target under Iran’s Seventh Development Plan, investment in the oil and gas sector—particularly upstream projects—must be prioritized. With this goal, the National Iranian Oil Company (NIOC) is hosting the Upstream Oil and Gas Investment Transformation event.

On Tuesday, April 22, NIOC will introduce over 200 investment opportunities in upstream oil and gas projects and its value chain. While domestic capacity remains a priority under Iran’s "resistance economy" policies, attracting foreign investors is also essential.

Oil Minister Mohsen Paknejad announced Iran’s openness to foreign investment in its oil industry, particularly from neighboring countries.

Thanks to the active energy diplomacy of the Oil Ministry under the 14th administration, the event has drawn significant interest from energy sector players and financial markets. So far, representatives from 30 foreign countries across Europe, South America, Asia and Africa have confirmed participation.

The event will provide foreign investors with key information on NIOC’s transferable projects, investment regulations, procedures, and incentives. - Shana