Iranian oil industry draws up company list as it seeks to raise $100bn

Iranian oil industry: Iran will issue a preliminary list of international energy companies eligible to take part in tenders to develop its oil and gas fields within the next two weeks, a senior Iranian oil official announced yesterday. “Not all foreign companies active in the oil industry can participate in Iran’s tenders,” Ali Kardor, Managing Director of the National Iranian Oil Company (NIOC) said.“Only those international companies that meet the standards of NIOC will be chosen.” Outside the US companies, there were only around 37 companies in the world that might meet Iran’s standards.
Iran needs  investments of over $100bn – preferably by way of project financing – to bring it up to full production capacity, Kador added,as corporate financing would take too long.
“As someone who has spent years working in investment and financing, and who  is familiar with international financing methods, I believe this method [corporate financing] undoubtedly cannot raise the  amounts needed for Iran’s oil industry and could  at best attract  only $20bn,”Ali Kardor told a meeting of oil and gas field developers yesterday.  Project financing was a  more viable option, he claimed.