As Iranian oil returns diminish, Scots business looks for new opportunities through energy connections
SCOTTISH businesses are preparing to increase links with Iranian companies in the energy sector in both oil and renewables.
The news follows a visit by Scottish Enterprise, Scottish Development International and several energy companies to the Offshore Energy Exhibition and Conference (OEEC) last week in the Port of Rotterdam.
It was the first time that Scotland has hosted its own pavilion at the gathering which featured 13 oil, gas and wind power related businesses and follows moves by Iranian companies keen to collaborate after the lifting of nuclear related sanctions on their country in January this year.
Iran is looking at investing $12bn into renewable projects by 2030
Speaking to CommonSpace, David Rennie, international sector head at Scottish Development International said: “Attending international exhibitions is all about new contacts and opening up new opportunities.
“Offshore energy gave us an opportunity to meet companies on the Iranian pavilion with a view to creating new opportunities for the future.”
The OEEC attracts nearly 12,000 visitors and 658 exhibitors from 86 nationalities. The event has been running for nearly a decade and has not stopped growing.
Scottish Enterprise is the main economic development agency funded by the Scottish Government, and alongside Scottish Development International (SDI) it has a remit to attract foreign direct investment, encourage businesses to develop in Scotland and develop trade links.
“Supporting companies to find new international opportunities is a priority for us. So too is helping oil and gas companies to look at additional opportunities in other growing sectors where their skills can be transferred, such as offshore wind.” Maggie McGinlay
The two public bodies met members of the Iranian pavilion at a special breakfast sponsored by the Aberdeen based decommissioning body Decom North Sea.
In July, Iran’s energy minister Hamid Chitchian told Bloomberg News that his country is looking at investing $12bn into renewable projects by 2030 in light of the low wholesale price of oil.
Iran along with other OPEC members has seen dramatic declines in oil prices over the past two years, with crude oil dropping to between $40 and $50 per barrel from more than $100 in 2014.
Director of energy at Scottish Enterprise, Maggie McGinlay, said: “Supporting companies to find new international opportunities is a priority for us. So too is helping oil and gas companies to look at additional opportunities in other growing sectors where their skills can be transferred, such as offshore wind.”
Picture courtesy of SE
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