Iran is preparing to host a major event focused on transforming its upstream oil and gas investments, with representatives from 30 countries across Europe, South America, Asia, and Africa confirmed to attend. The event, titled “Transformation in Upstream Oil and Gas Investment,” will take place on April 23, 2025, and is being organized by the National Iranian Oil Company (NIOC).
The oil sector remains crucial to Iran’s economy, contributing significantly more to its GDP than any other sector. Upstream oil operations, which involve exploration and production, are capital-intensive and require advanced technologies, making investment in these areas essential for Iran to remain competitive on a global scale. The government sees such investment as a way to boost economic growth, particularly as oil production and exports have a direct impact on Iran’s overall economic performance.
In line with Iran’s Seventh National Development Plan, which sets a goal of achieving 8% economic growth, the country is focusing on attracting investment to its upstream oil and gas sector. This event aims to unveil over 200 investment opportunities, including projects that span the entire oil and gas value chain.
Iran is actively seeking foreign investors, especially from neighboring countries, to help revitalize its oil sector. The country’s energy diplomacy, led by the Ministry of Oil, has played a pivotal role in drawing significant international interest, and the event is set to offer a platform for foreign investors to explore NIOC’s investable projects, understand regulatory frameworks, and learn about available incentives.
The oil sector’s performance is essential for Iran’s economic resilience, and international investment is seen as a key component in ensuring continued growth and development.
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