By John Lee.
Oil services company Petrofac is to reopen its Tehran office.
Chief Executive Ayman Asfari said the company was probably going to bid for oil services contracts though large oil companies once they have won new business.
This means the amount of work it does in Iran would remain low in the next year or two, according to a report from Reuters.
“But three or four years down the road it will be an important market for us,” Asfari said.
Before sanctions were imposed, Petrofac had worked directly for the National Iranian Oil Company (NIOC).