​Dr. Moazami, IDRO chairman-cum-deputy industry minister, has lured all international companies active in the oil, gas, and petrochemical sectors to the Iranian market. Dr. Moazami, former managing-director of the National Iranian Gas Company, made the remarks during his speech at the ONS 2016 Energy Conference in Norway's Stavanger city. Adopting sound and healthy economic measures has contributed to a much better economic performance, up from 0.8-percent economic growth in 2012 to 4.2 percent in 2015, according to Dr. Moazami. With the Iranian economy emerging from the sanctions regime, Iran’s GDP has been forecast to hit the pre-sanctions era records, up 5.1 and 5.5 percent in the years 2017 and 2018, respectively, Dr. Moazami referred to the World Bank data. Iran’s oil revenues took a plunge from a $69-billion high to a $33-billion low, he said, due to staggering oil prices over the past years. Also, oil and gas condensates exports soared from 1.1 million bpd in 2011 to 2.5 million bpd in 2016, nearly doubled. Over the same time expansion, the Iranian industry has been continuing on a positive track, as well, increasing from a negative 5.8 percent growth in 2011 to 4.4 percent in 2016. The Iranian economy is expected to experience a large growth due to stronger oil exports and healthier production and automotive sectors, itself a consequence of the removal of sanctions against the country, the IDRO chairman said, and this all depends on a correct implementation of macro-economic policies. Moazami said that Iran's new policies will involve the implementation of a 20-year outlook for Iran's oil industry which has been compiled focusing on four pivotal issues."Based on the first axis before 2025, Iran, in terms of value, will be the biggest producer of petrochemical products in the region. Secondly, by the end of 2025, seven percent of the world's oil demand will be met by Iran. The third axis has to do with gas exports depicted in such a way that Iran will have been the third largest gas producer in the world by the 2025, accounting for 8-10 percent of the global gas trade as well as gas derivatives. Under the fourth axis, Iran has been planned to be the first country in connection with gas and oil technology,” Dr. Moazami was quoted as saying in his address. Various studies suggest that hydrocarbon resources still remain the most significant energy source by 2050, the deputy industry minister reminded, adding, “studies indicate that Iran, Saudi Arabia, Kuwait, Iraq, and the United Arab Emirates, all littoral countries of the Persian Gulf, will account for 65 percent of known crude oil reserves, making them the biggest oil producers in the world.”  Providing details on Iran’s policies and development projects to flourish the oil, gas, and petrochemical sectors over the next four years (2017-2021), Dr. Moazami said the oil industry should play a more important role in the country’ energy sector on the basis of the ensuing pivots: •    Producing 4,750,000 bpd (from the current 3.8 million bpd) •    Producing one million gas condensates per day (from the current 580,000 bpd)•    Producing 1300 million cubic meters of natural gas per day (from the current 850,000,000 bpd)•    Building a refinery capacity equivalent to 3 million bpd (from the current 1,820,000 bpd)  •    Reaching an annual capacity to produce 120 million tons of petrochemical products (from the current nominal and real capacities of 70 and 55 million tons, respectively) •    Focusing on building necessary infrastructures to develop the oil, gas, and petrochemical sectors in key regions of the country, particularly in islands and the northern parts of the Persian Gulf •    Working out plans for gas exports to neighboring countries through pipelines and to other countries through liquefied natural gas (from the current 35 million cubic meters per day which needs to be increased to 200 million cubic meters per day) •    Working on a diplomacy of energy and upgrading ties with regional countries as well as OPEC members in a push to play a more central role in meeting energy meets, stabilizing global oil market, and earning fair revenues •    Seeking to establish strong Exploration and Production oil companies through links with pioneering countries in the field of oil extraction to obtain modern technology and lure foreign investment to the oil, gas, and energy sectors on the basis of a win-win framework •    Turning into a regional financial, monetary, investment, insurance, oil and gas equipment hub An important point is that Iran has plans to attract nearly $180 billion foreign investment, the IDRO chairman said. The investment agenda, if realized, will allow Iran to develop its strategic projects such as finishing petrochemical projects, developing onshore and offshore oil fields, renovating current facilities, West Karoun oil fields, etc. On the implications of the removal of sanctions against Iran, the deputy industry said this has set the stage for technological ownership and localization, international re-engagement, investment opportunities, etc.  When oil and gas was discovered in the North Sea, the need for a meeting place for the companies in this new industry emerged. ONS was held for the first time in 1974, and has more than 40 years of proud history.ONS is a non-profit foundation, and was established by Stavanger City Council, Statoil, Stavanger Forum and the Norwegian Petroleum Society.ONS has developed with the times – as has the name. In the seventies, ONS was short for Offshore North Sea, as the event was targeted at companies with business in the North Sea basin.However, the oil industry soon started to explore other parts of the Norwegian Continental Shelf. The ONS event grew alongside the industry, more exhibitors and visitors participated and the conference topics became broader. So the name was changed to Offshore Northern Seas.Today, the event attracts visitors from all over the world, and is known just as ONS.