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Official: Iranian Contractors Implementing NIOC’s Oil Projects

22 December 2012 10:56

A senior official of National Iranian Oil Company (NIOC) downplayed the effects of sanctions on the advancement of the country’s oil projects, and said the Iranian contractors are accomplishing the projects.

Managing Director of the NIOC Ahmad Qalebani noted that all NIOC’s pending projects are being accomplished by Iranian contractors and making use of domestic equipment.

He also said that the number of pending oil projects in the country are more than any time before despite the US-led western unilateral sanctions on the country’s all economic sectors.

After the UN Security Council ratified a sanctions resolution against Iran on June 9, 2010, the United States and the European Union imposed further unilateral sanctions against the Islamic Republic over its nuclear program, mostly targeting the country’s energy and banking sectors.

Tehran has always dismissed West’s pressures and stressed that sanctions and embargos merely consolidate Iranians’ national resolve to continue the path of progress and will harm the economies of the supporters of sanctions.

The EU measure was ratified at a ministerial meeting in January, but the 27-member bloc deferred its implementation until July 1.

Meantime, analysts believe that the EU started implementation of the sanctions against Iran at a time when it is experiencing its worst economic conditions.

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