Oil Sector Investment and Iranian Economic Development

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Antony Jordan
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1 The Introduction of New Iran Petroleum Contracts IPC Tehran 2015 Oil Sector Investment and Iranian Economic Development By: Masoud Nili Economic Advisor to the President of the Islamic Republic of Iran and Head of IMPS

2 1. Importance of Oil Sector in the Iranian Economic Development 2. Islamic Republic of Iran s New Policies on Oil and Gas Sector Development 3. Iran Economic Outlook in Post Sanction Era

3 Billion US$ Iran GDP (Constant 2005 US$)

4 Oil Sector Share in Total GDP 35% Oil sector share in GDP has always been more 30% than 10% and the share will increase after 25% sanctions removal. 20% 15% 10% 5% 0%

5 80% 70% 60% 50% 40% 30% 20% 10% 0% Share of Oil Revenue in Government Budget

6 100% Share of Oil Revenue in Total Export 80% 60% 40% 20% 0%

7 Thousand barrels per day 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1, Total Oil Production

8 80% 60% 40% 20% 0% -20% -40% -60% Iranian Annual Economic Growth Rate Versus Oil Revenue Growth Rate 15% 10% 5% 0% -5% -10% real Oil Revenue Growth Rate Economic Growth Rate

9 9% 8% 7% 6% 5% 4% Share of Investment in Oil Sector in Total Investment Although the size of oil sector has been more than 10% of GDP for Decades, Investment in the sector has been less, continuously. 3% 2% 1% 0%

10 Sector Share in Total Investment During the last 24 Years Agriculture % 4 Oil % 5 Industry % 21 Services % 70

11 1. Importance of Oil Sector in the Iranian Economic Development 2. Islamic Republic of Iran s New Policies on Oil and Gas Sector Development 3. Iran Economic Outlook in Post Sanction Era

12 سیاستهایکل یاقتصادمقاومتی General policies of the resilient economy ۱۴- افضایص رخایش سا ثشدی فت گاص کط س ت ه ظ س اثشگزاسی دس تاصاس ج ا ی فت گاص تأکیذ تش حفظ ت سع ظشفیت ای ت لیذ فت گاص ت یژ دس هیادیي هطتشک Increasing the country s oil & gas strategic reserves in order to influence the global gas & oil market and putting an emphasis on maintaining and developing the oil & gas production capacities especially in the joint fields.

13 سیاست ای کل ی تش اه ضطن ت سع )۲۰۱۶-۲۰۲۱( General policies of the sixth development plan ( ) ۱۲- حوایت اص تأسیس ضشکت ای غیشد لتیی تیشای سیشهای گیزاسی دس فعالییت یای اکتطیا ( ی هالکیت) ت ش تشداسی ت سع هیادیي فت گاص کط س ت یژ هیادیي هطتشک دس چاسچ ب سیاست ای کلی اصل ۴۴ 12- Supporting the establishment of non-governmental companies for investment in exploration operations and not ownership, exploiting and developing the country s oil & gas fields especially the joint fields within the framework of the 44 th article s general policies.

14 سیاست ای کل ی تش اه ضطن ت سع )۲۰۱۶-۲۰۲۱( General policies of the sixth development plan ( ) ۱5- اگزاسی طشح ای جوعآ سی ه اس ک تشل ت ش تشداسی اص گاص ای ویشا ت لییذ دس کلیی هیادیي فت تأسیسات ص عت فت ت هشدم. 15- Transferring the harness, control and exploitation plans of the associated gas in all the oil fields and the oil industry establishments to the public.

15 سیاست ای کل ی تش اه ضطن ت سع )۲۰۱۶-۲۰۲۱( General policies of the sixth development plan ( ) ۱7- دا ص ت یاى و دى ص ایع تاالدستی پاییيدستی فت گاص تا تأسیس تق یت ضشکت ای دا صت یاى تشای طشاحی ه ذسی ساخت صة تج یضات ا تقال ف ا سی ت ه ظ س افضایص خ دکفایی. 17- Making the oil & gas upstream and downstream industries knowledge - based through establishing and strengthening knowledge - based companies for designing, engineering, building, installing equipment and transferring technology in order to increase self - sufficiency.

16 سیاست ای کل ی تش اه ضطن ت سع )۲۰۱۶-۲۰۲۱( General policies of the sixth development plan ( ) افضایص هستوش ضشیة تاصیافت هخاصى اص ایی تشداضت گاص. فت چا ای -۱ Continual increase of recovery factor and ultimate recovery from oil & gas reservoirs.

17 Promoting foreign investment سیاست ای کل ی اقتصاد هقا هتی General policies of the resilient economy ۱۰- حوایت و جا ث ذفو ذ اص صادسات کاال ا خذهات ت ت اسة اسصش افض د تیا خیال اسص آ سی هثثت اص طشیق: - تط یق سشهای گزاسی خاسجی تشای صادسات Goal-oriented support for the export of goods and services in proportion to the value-added and surplus in net foreign currency entry, through promoting foreign investment for export.

18 Promoting foreign investment سیاست ای کل ی تش اه ضطن ت سع )۲۰۱۶-۲۰۲۱( General policies of the sixth development plan ( ) کط س اص خاسج ایشا یاى سشهای گزاساى یای هطی ا گییض ایجیاد تا خاسجی 8- جزب سشهای الصم. 8- Attracting foreign investors and the capital of the Iranians abroad through the required incentives.

19 Promoting foreign investment سیاست ای کل ی تش اه ضطن ت سع )۲۰۱۶-۲۰۲۱( General policies of the sixth development plan ( ) ۶۰- ا ل یت دادى ت دیپلواسی اقتصادی تا ذ ت سع سشهای گزاسی خاسجی س د ت تاصاس ای ج ا ی دستیاتی ت ف ا سی تشای تحقق ا ذا اقتصاد هقا هتی س ذ چطنا ذاص 60- Prioritizing economic diplomacy with an aim to develop foreign investment, entering the global markets and acquiring technologies in order to accomplish the goals of the resilient economy and the vision document.

20 Promoting foreign investment )۲۰۱۶-۲۰۲۱( سیاست ای کل ی تش اه ضطن ت سع General policies of the sixth development plan ( ) ۶۶- حوایت قضائی هؤثش دس تضویي حق هالکیت استحکام قشاسداد ا ت ه ظ س ت سع سشهای گزاسی تخص خص صی سشهای گزاسی خاسجی. 66- Effective judicial support to guarantee property rights and contract strengthening in order to develop the private sector and foreign investments.

21 1. Importance of Oil Sector in the Iranian Economic Development 2. Islamic Republic of Iran s New Policies on Oil and Gas Sector Development 3. Iran Economic Outlook in Post Sanction Era

22 Inflation rate has been continually decreasing from 2014 Iran, Islamic Rep. World

IMF Forecast About Iran Economy for 2016 In General policies of the sixth development plan (2016-2021), Supreme Leader of Iran has set

23 IMF Forecast About Iran Economy for 2016 In General policies of the sixth development plan ( ), Supreme Leader of Iran has set target of 8% in average annual GDP growth rate during the period. Energy Sector would November be locomotive Tehran of the growth.

A Thesis Submitted in Partial Fulfillment of the Requirements for the Degree of Master of Arts in English Translation Studies

Islamic Azad University Science and Research Campus Department of Translation Studies A Thesis Submitted in Partial Fulfillment of the Requirements for the Degree of Master of Arts in English Translation