TEHRAN - Representatives from 30 countries across Europe, South America, Asia, and Africa have confirmed their participation in the upcoming “Transformation in Upstream Oil and Gas Investment” event in Iran.

According to Shana, the oil industry is considered the most investment-attractive sector in both Iran and the world. Due to the capital-intensive nature of upstream operations—from exploration to production—as well as the high cost of required technologies, prioritizing investment in this field is essential to ensure Iran keeps pace with global developments.

Oil remains a major driver of Iran’s economy, contributing significantly more to GDP than other sectors. There is a strong positive correlation between oil sector growth and overall economic performance: whenever Iran’s oil production and exports increase, economic growth follows. Conversely, declines in production and exports—mainly due to unilateral sanctions—have had a negative impact on growth.

To achieve the eight percent economic growth target outlined in Iran's Seventh National Development Plan, prioritizing investment in the oil and gas sector, particularly its upstream segment, is critical. In line with this goal, the National Iranian Oil Company (NIOC) will host the investment transformation event on Tuesday, April 23, to unveil over 200 upstream oil and gas investment opportunities and integrated value-chain projects.

While Iran's economic resilience strategy emphasizes utilizing domestic capacity, the participation of foreign investors remains a strategic focus. Oil Minister Mohsen Paknejad has confirmed Iran's willingness to welcome international investors, especially from neighboring countries.

Thanks to the Ministry of Oil’s proactive energy diplomacy under the 14th government, the event has attracted unprecedented attention from energy sector stakeholders and financial markets. So far, delegates from 30 countries have announced plans to attend.

The event will offer a comprehensive platform for foreign investors to explore NIOC’s investable projects, understand regulatory frameworks, and learn about the incentives and facilitation measures available for upstream oil and gas ventures.

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