Moreover , the newly identified approaches to the industry at large , have spawned certain policy changes and significant initiatives , for redefining the role of oil and gas in the country’s economy . A number of which are :
- The policy for attracting foreign investment and know-how through the buy- back agreements .
- Embarking on part-privatization and decentralization of the petroleum sector.
- Creating the much-needed stabilization fund.
- Capacity building in related local industries .
- Augmenting the domestic added value in the chain of activities within the hydrocarbon sector.
Broadly speaking ,within Iran, there is an increasing emphasis on privatization of downstream energy facilities , increasing efficiency and conservation of energy. Diversification of sources of energy ,with a notable emphasis on gas substitution , is favored and environmental issues are starting to be emphasized, as well .This trend of course , shall remain .
For small projects and enterprises, there are pretty good prospects ; However , for larger operations we will probably have some challenges . For example, giving up ownership of gas stations owned by the state, undertaking maintenance of facilities which has traditionally been carried out by NIOC and NIGC and engineering works traditionally handled by government companies. These are possible. But selling refineries, for example, would in all ,likelihood generate certain problems.
For middle-ranking projects, the government is also doing everything it can to support Iranian contractors. And while expatriates are still very much in demand for big projects , even then, the favored option is for them to develop joint ventures with Iranian companies, especially from the private or semi-private sector.