A US-based filtration, separation, and purification solutions company Pall will invest in Iran’s oil industry, the investment, if confirmed, would be the 1st by an American firm in years, reported iranian NIOC on 14 May, 2017.
Under the agreement, Iran would import filtration technology for refining via Pall Corporation and Pall will transfer technology and invest in starting a production line for oil equipment in Iran, said Neda Mousavizadehgan, a member of the Society of Iranian Petroleum Industry Equipment Manufacturers (SIPIEM).
It would cut costs by providing the equipment for Iran’s oil industry and would also enhance safety at petrochemical plants.
A representative from Pall Corporation was also present at the briefing, and said that the U.S. Corporation was interested in Iran’s market.
Western oil companies are waiting for an extension of the waiver on U.S. sanctions against Iran before they make final decisions on investing in the country.
One of them is France’s oil major Total, which is waiting for a waiver extension before making the final decision on a $2.2-billion investment in a gas project in Iran.