Global
energy giant British Petroleum (BP) has reportedly started a serious
push to look into the prospects for making post-sanctions investments
in Iran’s oil industry
Reuters said
in a report that BP has formed a special task force to study Iran’s
oil industry investment potentials in what could be a fresh sign of
the growing interest of major corporations in Iran’s promising oil
and gas prospects.
BP’s task
force for Iran will coordinate the oil major's operations in the
country as well as any discussions with the country's national oil
company - NIOC.
To cushion
against the risks of the remaining US anti-Iran sanctions that ban
any American involvement in the country’s economy, BP has decided
to exclude its American CEO Bob Dudley from its Iran task force and
instead appoint chief financial officer Brian Gilvary – a British
national – to lead the mission.
The move
highlights the lengths to which multinationals will go to exploit
lucrative new business in Iran, Reuters added.
BP is an old
name in Iran and was the first company to produce oil in Iran more
than a century ago when it was called the Anglo-Persian Oil Company.
The company
had no recent major involvement in Iran’s oil industry before and
after the imposition of US-led sanctions against the country in 2012.
The
formation of a special task force for Iran follows recent indications
that rivals like France’s Total and Norway’s DNO are already
cementing their foothold in the Iranian market through development
deals.
Total was
the first major Western company to sign a deal with Iran earlier this
month for the development of a major gas project – Phase 11 of the
country’s South Pars field.
Norway's DNO
has also agreed to study the development of the Changuleh oil field
in western Iran – what is expected to lead to a development deal
next year.
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