Senior economist Saeed Leilaz says conclusion of new oil and gas contracts with the foreign companies, which hold capital and technology, is necessary and not a single moment of delay in this respect will be wise because Iran has lost 12 golden years of investment.

Leilaz told Shana that in the past, huge amount of investment was made in the oil industry but unfortunately, over the past decade negligence has resulted in a gap of 200 billion dollars in the investment.

He said geopolitically and not merely economically, revival of the oil production capacity is essential under present economic condition of Iran.

He added, "Crude oil production capacity of Iran was to reach more than five million barrels per day in the Fourth Five-Year Plan, that is about 10 years ago not now and that through the new oil and gas contracts."

He said those inside the country, who are concerned with increase in Irans oil production capacity are in fact like the Arabian and Western states that are unhappy with increase in Irans production.
Unfortunately, a very exceptional issue that happened in 2013 in our neighborhood was Iraqi oil productions going ahead of Irans, said the economist, adding that this is while, the major portion of the production had been possible through using the fields common with Iran.

"For the time being, oil price worldwide is between 45 and 50 dollars a barrel and under such economic conditions, if Iran manages to sign a contract with foreign parties, foreign capital will be absorbed as national interests will be safeguarded, so a big job would have been done. Otherwise, we will have to draft a contract that would guarantee national interests by 100 percent and foreigners would not be present there."

Concluding his remarks, Leilaz said Iranian oil industry is now under a difficult condition.