Ahmed Qandeel (Ph.D.)
Chief of the Energy Studies Program and Expert
at the Al-Ahram Centre for Political and Strategic Studies
Following the implementation of the Iranian nuclear deal on January 16, 2016, most of its advocates expected the agreement, as well as the relief of sanctions, to achieve significant and immediate benefits for the Iranian energy sector in three major areas:
1. Increasing oil and natural gas production and exportation and, thus, public revenues.
2. Re-integrating Iranian banks into the international banking system to facilitate financial transactions and attract foreign investments in the various Iranian energy sectors.
3. Releasing Iranian assets that were frozen abroad so they could be utilized to develop this sector, knowing that half of Iran’s oil production comes from seventy-year-old fields.