Deputy Minister: Iran's Growing Oil Technology Indebted to Sanctions http://english.farsnews.com/newstext.php?nn=9002261170

Sanctions against Tehran have not left any negative impact on the Iranian oil sector, and rather strengthened the country's independence and national resolve, Iranian Deputy Oil Minister for Research and Technology Mohammad Reza Moqaddam stressed on Monday.   "Under such circumstances that they have even blocked our financial resources and closed all doors to Iran's oil industry, the industry is active with a boosted and strengthened morale,"

Moqaddam said, addressing the fourth national forum on offshore industries in Tehran.He further reiterated that international sanctions and the extra embargos imposed on Iran by the West have actually backfired and encouraged Tehran to stand on its own feet.The deputy oil minister said that the Iranian experts' increasing home-grown knowledge and technology in the oil sector promises that Iran would become an exporter of offshore technology.Iran, which sits on the world's second largest reserves of both oil and gas, is facing US sanctions over its civilian nuclear program. 

Iranian officials have dismissed US sanctions as inefficient, saying that they are finding Asian partners instead. Several Chinese and other Asian firms are negotiating or signing up to oil and gas deals.Yet, after oil giants in the West witnessed that their absence in big deals has provided Chinese, Indian and Russian companies with excellent opportunities to sign up to an increasing number of energy projects and earn billions of dollars, they started showing increasing interest in investment or expansion of work in Iran.

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