Iran Framework Agreement – What does it mean to Oil & Gas Practitioners

It is all set, the Iran framework agreement has been completed, ready for the final agreement by mid-year. What does this mean for the Oil & Gas practitioners?

Iran could inject another 1M/bd into the already over supplied market in the next 6 months further pushing down oil prices. This will surely put more projects and explorations on hold. Meaning more job cuts in the future.

With big oil companies entering the Iran O&G soon, it will take some time before it could create significant employment.

Meantime most O&G practitioners will remain unemployed.

A Filipino Engineer, Registered Professional Engineer of Queensland (RPEQ) - Australia and Professional Electrical Engineer (PEE) - Philippines with extensive experience in concept select, front-end engineering, HV & LV detail design, construction and commissioning of Hazardous and Non-Hazardous Area electrical installations in water and waste water pipeline and pumping facilities, offshore platforms, hydrocarbon process plants and pipelines including related facilities. Hazardous area classification and design certification (UEENEEM015B, UEENEEM016B, UEENEEM017B).