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Shell keen on returning to Iran energy sector

Iran's National Petrochemical Company and Shell signed a letter of intent for starting studies for carrying out petrochemical projects in Iran.

Shell keen on returning to Iran energy sector


Iran's National Petrochemical Company (NPC) and the energy giant Royal Dutch Shell signed a letter of intent (LOI) for starting studies for carrying out petrochemical projects in Iran, reported iranian Shana on October 10, 2016.

A Senior Official with the Anglo-Dutch Royal Dutch Shell says his company has had intense talks with the National Petrochemical Company (NPC) for restoring its presence in Iran's energy projects. Speaking to Shana prior to signing a letter of intent (LoI) in Tehran, Hans Nijkamp, Shell Vice President Iran, said «We think we can work together with the NPC very well to deliver petrochemical projects in the country here. Shell is a company with a lot of experience in both advanced technologies, and project management skills and we are concentrated on local content when we do our work.»

He said gas-based cracker, diesel, and gas to liquids are some of the areas among many other things Shell can do in Iran.
«This LOI gives us the framework to have proper discussions with the NPC to have these detailed discussions on the confidentiality provisions and then decide what we will do together.»

Shell Vice President Iran said more time is needed for signing an agreement with the NPC. «An agreement always takes as long as it takes. So it is difficult to put an exact time on it. I think we first need to see what are the areas where we think we can work together and then work out what commercial structures we use, what technical solutions and ultimately you will indeed end up with a sort of a joint venture agreement. But it is too early today to put any timeline on that».

Nijkamp also said this is just the first step and there will be others as well and that they are also discussing with NIOC for an MoU there.

The Shell official said his company also has a lot of license technology and can bring capital for investment and also quite deep project management skills in terms of how to get big and complicated and integrated projects done. «We are not coming to Iran to stay for a while and carry out a number of projects and leave. If we want to do major projects it is going to take a long-term presence in Iran».

To read this news in Russian.


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