Iran is drawing in more foreign investors eager to renew work in the energy sector because of the low cost of doing business, a corporate director said. The National Iranian Oil Co. said it expects to award roughly a dozen new agreements for oil and gas developments as the appetite grows for working in Iran’s oil and gas sector. Gholam-Reza Manouchehri, a managing director for the NIOC, told the official Islamic Republic News Agency international energy companies have more motivation for engagement as sanctions pressures ease. “The costs of producing oil and gas in Iran are very low compared to other countries,” he added. Iran under the terms of a production agreement from members of the Organization of Petroleum Exporting Countries can keep working to regain its market share, while other producers are expected to make cuts. The government aims to draw new investors […]