Oil consortium to replace foreign firms in Iran
CEO of Pergas International Consortium (PIC) announced that his consortium is ready to replace the companies that have been forced to move out of Iranian industry because of re-imposition of US sanctions against Iran.
In the wake of US decision to exit from Iran’s nuclear deal, some international companies active in Iranian oil projects said they will withdraw from Iranian projects.
However, some other companies, including Pergas International Consortium, expressed eagerness to continue with their presence in Iran.
Seeking to develop hydrocarbon fields, PIC is composed of 11 European, Asian, and Canadian companies active in both upstream and downstream oil industry.
CEO of Pergas International Consortium said, “the Consortium plans to execute the plan with precise and accurate management and for this purpose, it intends to cooperate with the Iranian and international parts manufacturers. Once this plan is executed completely, moreover increasing Iran’s crude production capacity, employment opportunities will be generated in Khuzestan Province.”
US President Donald Trump announced his country's unilateral withdrawal from Joint Comprehensive Plan of Action (JCPOA), Iran’s nuclear deal, on May 8, saying Washington will reinstate the removed sanctions on Tehran with a period of 90 to 180 days.
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