Shell Eyes Hydrocarbon Extraction in Iran

News ID: 881805 Service: Economy
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TEHRAN (Tasnim) – Shell Chief Executive Ben van Beurden has said that the Royal Dutch company is interested in the prospects of hydrocarbon extraction in Iran, media reports said.

Speaking on the first morning of the Oil and Money conference in London on Tuesday, Van Beurden said that Shell is eager to participate in exploration operations and hydrocarbon extraction in Iran once the Islamic Republic’s market starts to develop following the July 14 nuclear agreement and the ensuing lifting of sanctions against Tehran, Sputnik reported. 

The Oil and Money conference kicked off yesterday in London and will come to an end on October 7.

"Iran is an interesting country for its geology, but we have to see how the market’s terms and conditions will develop and how our appetite to invest will develop – at this point in time, it is premature (to discuss)," he added.

Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14 reached a conclusion on a lasting nuclear agreement that would terminate all sanctions imposed on Tehran over its nuclear energy program after coming into force.

The promising prospect of trade with Iran has prompted many countries to explore the market potential in the populous Middle East nation.

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