Iranfront

Irancelebration

Edna Travers (Golboodaghians), OPC Business Development Manager for the Middle East, was “on the ground” in Tehran on 14th July to witness thousands of citizens celebrating the historic nuclear deal which should lead to removal of sanctions and provide a boost to the economy in Iran. Edna, who was born and raised in Iran, was visiting family and gives us this report:

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Edna Travers (Golboodaghians)

“It was fantastic to be visiting my mother in Tehran when the news of the nuclear agreement broke.  The vast majority of the population have been hoping and waiting for a successful conclusion to the talks and the celebrations were wonderful to see.  The roads were clogged with traffic so everybody including senior citizens and little children, walked around celebrating, singing, waving flags and chanting well into the early hours.  I feel it is the second most important milestone in my life in Iran – the first being the end of the Iran-Iraq war in 1988 when I was still in school.”

Full details of the deal have yet to emerge, although sanctions are expected to be lifted before the end of December 2015.   Sanctions have severely restricted exports of oil from Iran, which has the world’s fourth largest proven reserves of oil and second largest proven reserves of gas.

Pascal Menges, manager of the Lombard Odier Global Energy Fund, said: “On the medium term, the re-opening of Iran could be a ‘gold rush’ for oil services companies and integrated oil companies. Iran has already announced its willingness to propose attractive new fiscal contracts.”

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Piers Johnson

Piers Johnson, Managing Director of OPC said, “We are very excited by the prospects for the Iranian oil & gas industry.  As soon as sanctions are lifted OPC will be ready to support Iranian and International oil and gas companies with subsurface engineering, geosciences and production engineering expertise.  Edna’s knowledge and local network in-country will be an invaluable benefit for us and to our clients.”

 

Edna said “Over the last 12 months I have noticed a marked increase in international business visitors on the plane to Tehran.  Iran has a highly educated and skilled workforce with good proficiency in English.  Despite the sanctions, knowledge of the latest engineering disciplines has been maintained. I look forward to building up OPC’s network of local engineers, supported by OPC’s existing international consultants to provide an expert service to the Iranian oil industry.”

To discuss opportunities in Iran and elsewhere in the Middle East, please contact:

Edna Travers (Golboodaghians)
Business Development Manager
OPC Middle East
Tel: +7 915 434 1347
edna.travers@opc.co.uk