Mohsen Khojstemehr, CEO of the National Iranian Oil Company, said at the 6th China International Import Expo: The presence of the Islamic Republic of Iran at this expo shows extensive economic interactions, especially in the field of energy and international trade.
He added: This exhibition shows the commitment of the two countries, Iran and China, to the development of bilateral cooperation and a proper connection between the Iranian domestic market and the Chinese market.
The Deputy Oil Minister continued: We seek to create a stable platform at the strategic level and create an international and market-oriented business environment, and the doors of Iran and China are opening one to another and the opening process extends.
In practice, the Islamic Republic of Iran has demonstrated that it is a reliable and stable market in the field of energy trading.
Khojstemehr continued: The importance of the presence of Iran, especially the Ministry of Oil, at this exhibition is enough for the First Vice President, several ministers and owners of various companies to be present at this exhibition and this meeting.
Stating that Iran participated in this important exhibition with many companies, he added: This exhibition represents in-depth interaction in the industrial and economic sectors, especially in the energy sector.
The CEO of the Iranian National Oil Company said: Iran ranks first in the world in terms of combined oil and gas reserves and has approximately 340 billion barrels of crude oil equivalent, and these valuable reserves require investment of around $250 billion in the upstream sector. and downstream sectors for the next eight years.
Khojstemehr said: In the upstream sector, we have an investment opportunity of around $160 billion through the implementation of around 100 projects related to the development of oil and gas fields, and we have planned to increase crude oil production capacity by 5.7 million barrels per year. day and 1.5 billion cubic meters of gas.
He added: There is an investment opportunity of around $35 billion for the creation of new capacity of around 40 million tonnes per year in petrochemical projects and around $80 billion for the creation of a new refining capacity of 1.5 million barrels in refining. sector.
The CEO of the Iranian National Oil Company added: A significant part of the needs of this investment is related to the purchase and supply of goods, and in addition to using national capacity in this sector, Iran also uses import and export capacity. goods in China, and in this sector too, this made it possible to exchange experiences and products.
Khojstemehr continued: Investments can contribute to global energy stability and security; The future of global energy is determined by the major players, and Iran, as one of the major players in the energy sector, has a decisive role to play.
He said: I hope that holding this exhibition will be an opportunity for us to strengthen our international business through constructive cooperation.