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Turcas Petrol to enter energy market in Iran

Published

May 5, 2016

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Published:

May 5, 2016

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Turkish energy company Turcas Petrol is looking at entering the Iranian energy market through investments in oil, gas or renewables, following the lifting of most of the sanctions against the Islamic Republic. “We believe we must definitely be in Iran,” company’s chief executive Batu Aksoy told journalists, as reported by Hürriyet Daily News. At a time when global growth is slowing, such a market can be a driving force, both for the world and for Turkey, he added.

At a time when growth in the world is stalling, a market like Iran could be a driving force, the company’s chief executive said.

Turcas is interested in teaming up with a local company but is also open to cooperating with Turkish firms, Aksoy said. “We have established networks before the lifting of sanctions. Now the embargo is lifted, they are more sympathetic to doing business with us,” he stated.

Supplying natural gas from Iran, projects for oil and its derivatives, as well as renewable investments, are all on the agenda, he said.

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