The Technology Transfer Deal
The Technology Transfer Contract comes after Versalis, Italy's largest chemical company by production volumes, sales and headcount, agreed to join a trilateral contract of Technology Transfer (TTC), together with two commissioning agencies - Italy's Tecnimont and an Iranian firm- with Iran's NIPC.
Versalis says on its website that it manages the production and marketing of an extensive portfolio of petrochemical products and is a leading manufacturer of intermediates, polyethylene, styrene and elastomers.
The company also says it recently repositioned its business with a greater focus on a market-oriented product portfolio, the strengthening of research and licensing and the expansion of its global presence by focusing more on the development and optimization of business, in particular elastomers, with a portfolio that will be enhanced by an integrated offer with products from renewable sources.
The Italians Meet With The Iranians
Eni CEO Claudio Descalzi, Italian Foreign Minister Paolo Gentiloni, and Italy's Minister of Economic Development Federica Guidi were among the hundreds of representatives who visited to Tehran last week. The representatives held meetings with two ministers of Hassan Rouhani's cabinet, mehrnews.com reports.
The Italian major had a $550 million agreement to help the Islamic Republic develop its Darkhovin oil field, anticipated to produce 160,000 bpd, prior to halting operations in 2010 due to sanctions pressure.
No Interest Expressed By American Companies Yet...
Iranian Oil Minister Bijan Zanganeh said last week that new contracts for potential IOCs will be formally outlined in December during an investment conference in London. Per the new terms, the National Iranian Oil Company will establish joint ventures with foreign companies, which will be compensated with a portion of the output.
Over the weekend, Zanganeh said that "all international" oil companies will be able to submit bids for projects in the country's oil sector. He said, however, that no interest has yet been expressed by American firms: "We have received no requests from any American company so far." US firms are prohibited from bidding on participating in Iran's oil sector until sanctions are lifted, which could be sometime this December or early next year.