04:41 GMT +323 November 2017
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    Iranian oil technician, right, and coworker  work at the oil separator facilities in Azadegan oil field, some 480 miles (800 kilometers) southwest of the capital, Tehran, Iran

    US Company Seeks Cooperation With Iran in Oil Industry

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    US-based Pall Corporation seeks to cooperate with Iran in the oil sphere, local media reported Wednesday, citing a member of the Society of Iranian Petroleum Industry Equipment Manufacturers (SIPIEM), Neda Mousavizadehgan.

    MOSCOW (Sputnik) — The IRNA news agency said that an announcement on the US company's plans to invest into Iran's oil industry and transfer its technologies was made by Mousavizadehgan at a press briefing, held on the sidelines of Iran Oil Show 2017, which took place on May 6-9.

    The SIPIEM representative pointed out that the ground for a deal was prepared after reaching an Iranian nuclear deal in 2015.

    The deal would enable Iran both to meet the domestic need and export oil equipment to the neighboring countries.

    In the case of the deal's success, the Pall Corporation would become the first US company entering Iranian market since 1979, when an Islamic Revolution led to the rupture of relations between Tehran and Washington.

    The Joint Comprehensive Plan of Action (JCPOA) was signed by Iran and the P5+1 countries – China, France, Russia, the United Kingdom and the United States plus Germany in July 2015, ensuring the peaceful nature of the Iranian nuclear program in return for the gradual lifting of sanctions against Tehran. The deal came into force on January 16, 2016, after the International Atomic Energy Agency (IAEA) confirmed that Iran was ready to implement the program to reduce its nuclear potential.

    However, the United States imposed new sanctions against Iran in February 2017 after a medium-range ballistic missile test has been carried out by Tehran in late January.

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    Tags:
    Oil Industry, Joint Comprehensive Plan of Action (JCPOA), P5+1, Iran, United States
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