Sina Energy Holding and the “Export Guarantee Fund of Iran” signed a memorandum of cooperation to enhance export financing and leverage each other’s capacities and capabilities.
According to Sina Energy, Alireza Salmanzadeh, CEO of Sina Energy, stated at the event attended by “Seyed Amir Barahani Naeini,” Chairman and CEO of the Export Guarantee Fund, board members of this fund, and deputies of the Sina Energy Holding, that in addition to the second phase development project for the Masjed Soleyman oil field, which is on Sina Energy’s agenda, new initiatives have also begun in this holding regarding field development. This includes negotiations for developing the “Dar Khoyen” oil fields, “Aghar” 2 field development, and construction of phase 2 at the “Farashband” refinery.
The CEO highlighted that various activities have been planned for this holding in a five-year framework set by the Mostazafan Foundation. He noted that beyond products from subsidiary companies exported worldwide today such as lubricants, industrial carbon black, tires etc. the plans made within upstream oil industry sectors including technical and engineering services exports indicate that cooperation with the Export Guarantee Fund will be very beneficial for achieving our outlined goals.
He also referred to export statistics from their production sector over seven months into this year. He mentioned that during these seven month the production companies within their holding exported over 185 thousand tons comprising various products showing a significant growth rate of 21% compared to last year.
Regarding export value during these initial seven months as well; he reported reaching $109 million in exports which indicates a remarkable growth rate of around 32% compared with similar periods last year.
He expressed hope that following signing this memorandum between Sina Energy Holding and Export Guarantee Fund; specialized working groups will be quickly established by both parties to implement its terms effectively.
Continuing with remarks at the session was Barahani Naeini who indicated: “Last year our fund issued nearly one-and-a-half billion dollars, worth in insurance policies.” He emphasized ongoing collaborations with petrochemical firms along with mining companies as well.
While stating how supportive thoughts towards companies are prevalent within his organization without an emphasis on profit generation; he acknowledged an excellent operational performance last year asserting it was one of our most profitable years throughout half a century’s history delivering about $580 billion operational profit back into state coffers.
The CEO further mentioned entering into supporting roles towards exporting technical & engineering services expressing conviction regarding strong collaboration given how significant Sina energy stands amongst major upstream players within Iran’s oil & gas sector.
Barahani Naeini reiterated commitment stating: “We consistently aim toward being supportive arms aiding companies in exploring new marketing avenues aimed at exporting products/services.”
At meeting conclusion; Alireza Salmanzadeh alongside Seyed Amir Barahani Naeini officially concluded signing joint cooperation agreement marking fruitful collaboration ahead between both entities.
