Danish Companies Interested in Iran’s Offshore Fields

Head of a visiting Danish delegation to Tehran said the Danish companies are interested in investing in Iran’s offshore fields.

News ID: 70544

Date: 26 November 2016 - 12:12

According to MANA, Hardestone, President of the Denmark union of petroleum companies made the remarks in a meeting with Managing Director of Industrial Projects Management of Iran (IPMI) Morteza Emami on Wednesday evening.

The Danish oil and gas companies have experience in working in the fields similar to Iran’s fields in the Middle East, the official added.

He voiced hope for establishment of Danish oil and gas companies’ office in Iran in the near future.

The Danish oil and gas companies are keen to cooperate with Iranian companies in the offshore fields as well as the Caspian Sea fields, head of the Denmark delegation added.

The Islamic Republic is ramping up oil production and reclaiming market share after the lifting of Western sanctions in January.

In 2016, the limitations on Iranian oil exports, the ban on export to Iran of equipment and machinery for the oil, gas and petrochemical sectors and for the maritime industry, as well as the prohibition of financial transfers to and from Iran were lifted. This has given rise to business opportunities for Danish companies in a wide range of sectors, including the oil and gas sector.

Denmark has considerable sources of oil and natural gas in the North Sea and ranked as number 32 in the world among net exporters of crude oil in 2008.