BPs President of Middle East Michael Townshend says the company is ready to return to Iran and resume its presence in Irans exploration and production projects in its oil and gas industry. Speaking to Shana on the sidelines of a meeting with Iranian petroleum officials, Michael Townshend said, there is a range of projects BP can bring to Iran to enhance the management of expertise and technology transfer. He said the company has great experience in big brownfield projects particularly around Ahwaz and Iraq. "We also operate in Kuwait and Iraq. We can bring value to Iran. On the exploration side, we have been focused on the exploration side in Iran for a long time and we did some studies back in early 2000 and we look forward to resume those studies in Iran," he said. Citing the greatness of investment and operational areas in Iran including the gas industry, Townshend said, "You have a lot of opportunities in Iran." "I havent been in Tehran for ten years and it is really nice to be back. Some things have stayed the same and a lot has changed as well. It is fantastic to see what Iran has done in the oil industry with sanctions being in place. It is remarkable what Iran has achieved." "What we all look for is what this new era brings. If sanctions disappear, this will provide various opportunities. Iran is so rich in its experiences and its oil wealth and I look for the time when we can bring new partnerships," he added.