Teheran, August 17 - Neftegaz.RU. According to the Iranian Fars, the German ADL company inked an agreement with Iran's Sepahan Oil Company (SOC) to cooperate in technology transfer.
CEO of Iran's SOC Mohammad Ebrahimi and CEO of Germany's ADL Michael Hyde signed the cooperation document despite the US unilateral sanctions against Iran and its withdrawal from the 2015 nuclear deal. According to the cooperation document signed between SOC and ADL, the 2 sides will cooperate in technology transfer in the field of oil & gas industry lubricants.
The European embassies made lots of efforts to pave the way for signing the agreement, Ebrahimi said. ADL will implement the project in cooperation with its Austrian and Swiss partners, he added.
In relevant remarks, an official with the National Petrochemical Company (NPC) said that a major Asian consortium is planning to invest $7 billion in Iran's petrochemical industry,.
Hossein Alimorad, the director of investment at NPC, said an agreement will be signed with the consortium in the near future, adding, the group will initially invest nearly $2 billion in Iran over a 3.5-year period, and in the 2nd phase, will bankroll petrochemical projects by up to $5 billion of finances in a 5 to 6-year period.
«This Asian major has announced that US sanctions will not affect their activities and are in final talks for how to stay in our country and find an Iranian partner; in this regard, several leading holdings have been introduced to them,» the official added.
The consortium has already constructed several major oil & petrochemical projects in Asia, Alimorad added. He further said that the presence of the consortium in Iran's petrochemical industry indicates that development of the sector would not be hampered by US restrictions.
«So far no company has officially severed its ties with NPC and even some European ones are seeking permits from the EU to stay in Iran's petrochemical industry.»
