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FGE’s Commercial Advisory Service

Opportunities for Foreign Investment in Iran

Real Insights Practical Solutions Endless Opportunitie

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Within the Upstream Oil and Gas, Downstream Oil and Refining, and Gas, Petrochemicals, and Power Sectors, we offer Commercial Advisory Services which can be created in a bespoke manner to meet the client’s advisory needs. In addition to the many topic areas within each sector from which to select, this service may also include Tailored Reports, In-house Training, and our Iran Oil and Gas Retainer Service.

Given the depth and breadth of advisory options, clients can customize a program based on their informational and commercial requirements.

FGE’s Iran Commercial Advisory Service

FGE is delighted to introduce our new Commercial Advisory Service on a post-sanctions Iran. While

building on the decades of our research, consulting, and professional networking in Iran and the

Middle East, we now offer our clients commercial advice and guidance across the energy sectors

in Iran. FGE operates from offices in London, Singapore, Dubai, Beijing, Tokyo, Hawaii, Los Angeles,

and Mumbai. An Iran office will be established shortly with key experts from Iran managing the office.

Overview

At FGE, there are nearly a dozen specialists of Iranian origin, with extensive experience and deep knowledge and insights in Iran’s energy sector.

FGE’s country focus gives it the detailed background knowledge required to provide context to the high-level insights it obtains from market sources, thereby creating additional value for our clients.

Dr. Fesharaki and FGE’s consultants, through their continual interactions with the key decision makers in the industry, obtain insights that are unparalleled in Iran’s oil and gas markets.

Further, and perhaps most importantly, Dr. Fesharaki and his team on the ground in Iran have critical convening power, which can ensure that our clients are guided to and with the correct individuals and institutions to ensure successful investment in Iran.

Why FGE?


The Sectoral Building Blocks of the FGE Commercial Advisory

Upstream Oil and Gas Downstream Oil and GasNatural Gas, Petrochemicals,

& Power

Available with a Commercial Advisory or on a Standalone Basis

Tailored Reports and Ad-hoc Studies

In-house Briefing/TrainingFGE’s Iran Oil and Gas

Retainer Service



Commercial Advice Provided Across All Building Blocks Includes:

• Key Introductions • Relationships and Stakeholder Management

• Potential Investment Opportunities • Project Identification and Screening

• Economic Assessment and Feasibility Studies • Deal Negotiation and Strategy

• Risk Assessment and Management • Guidance Through Political and Regulatory Environment

Upstream Insights Include:

• Oil and Gas Organizations in Iran and Decision Making Process for Project Developments

• Field-by-Field Oil Production Developments

• Existing Infrastructure and Bottlenecks • Development/Redevelopment of Oil and Gas Fields

• Short and Long-Term Production Outlook

Downstream Oil and Refining Insights Include:

• Refining and Condensate Splitter Projects • Downstream Oil Infrastructure (Pipelines and Storage)

• Domestic Petroleum Products Pricing, Supply and Demand Outlook

• Short and Long-Term Crude and Products Trade Outlook

• Environmental Standards and Fuel Diversification

Natural Gas, Petrochemicals, & Power Market Insights Include:

• Gas Export Projects and Pricing Policy (Pipeline and LNG)

• Petrochemical and Power Projects

• Gas Infrastructure (Pipelines, Gas, and NGL Processing Plants)

• Feedgas Pricing for Industrial and Power Projects

• Short and Long-Term Market Outlook



Iran Commercial Advisory Team

Dr. Fereidun Fesharaki | Chairman and Founder, FGE Group

Dr. Fesharaki, born in Iran, is a prominent expert on Iran’s oil and gas sector. He leads FGE with 10 offices around the globe, headquartered in London with an Asian Headquarters in Singapore. Dr. Fesharaki’s work is well-recognized worldwide for pioneering oil and gas market analysis and studies of the Asia Pacific/Middle East energy markets since the early 1980s.

In 1989, Dr. Fesharaki was elected a member of the Council on Foreign Relations in New York. Since 1991, he has been a member of the International Advisory Board of JX Holdings—Japan’s largest oil company. Dr. Fesharaki was the 1993 President of the International Association for Energy Economics (IAEE). In 1995, Dr. Fesharaki was elected a Senior Fellow of the U.S. Association for Energy Economics and since 2002, he has been a Senior Associate of the Center for Strategic and International Studies (CSIS) in Washington, D.C. Since 2008, Dr. Fesharaki was appointed to the National Petroleum Council. Since 2009, he has been a member of the Dubai Mercantile Exchange Limited (DME) Board of Directors. He received the Outstanding Contributions to the IAEE Award in 2012. In 2013, he joined the Advisory Board of VOPAK LNG, and most recently he was appointed as Honorary Advisor by CNPC Economics and Technology Research Institute in Beijing.

Dr. Fesharaki holds a Ph.D in Energy Economics from the University of Surrey in the UK and was a Post-doctoral Fellow at Harvard University’s Center for Middle Eastern Studies.

Mr. Mohsen Shoar | Distinguished Associate, FGE

Mr. Shoar is an independent consultant, an expert on upstream contract negotiations, and has much experience with the contracts and terms negotiated in Iran and several other Middle East countries. He has over 30 years of experience in the oil and gas industry in petroleum engineering, management, and business development. In the past 15 years, his focus has been on the upstream business development in the Middle East and North Africa developing key upstream projects. His experience includes creating, identifying, and developing new business opportunities in the upstream oil and gas business. He worked on a number of acquisition/disposition deals of energy assets in the region. His experience includes management of new business opportunities, commercial/financial expertise, and energy contract negotiations. His experience also includes leading a dynamic, multi-disciplinary, and diverse new business development team to identify opportunities for investments.

Mr. Shoar, a former Vice President, New Ventures for ConocoPhillips in Dubai, held various technical and managerial positions with Conoco and ConocoPhillips for over 24 years. He began his career with Conoco in Houston, Texas. He worked in several technical positions for 16 years before moving to the business development team for the Middle East. He retired from Conoco in 2004 and since then has held various positions with Intercontinental Energy in Dubai as Company Director, KUFPEC in Kuwait as Business Development Advisor, and Dana Gas in Sharjah as Commercial Manager until 2012. He has a broad range of contacts across the MENA region and has extensive knowledge of the companies working in the region and business opportunities available for investors.

A US citizen born in Iran, Mohsen holds a Master of Engineering and Bachelor of Science in Petroleum Engineering from the University of Texas at Austin.

Mr. Siamak Adibi | Iran Service Coordinator and Senior Consultant, FGE London

Siamak, born in Iran, specializes in the natural gas/LNG business with a focus on the Middle East, North Africa, and CIS countries. He has extensive analytical experience and insights as well as practical experience in the Iranian oil and gas sector for over a decade. Mr. Adibi served for a number of years with the National Iranian Gas Export Company (NIGEC). At NIGEC, Siamak was involved with several commercial negotiations in marketing and sales of gas by pipeline to Europe, the Persian Gulf, and CIS regions.

He is a specialist in energy modeling and long-term supply/demand forecasts. Siamak has an extensive knowledge about the upstream oil and gas and infrastructure in Iran. Siamak’s most recent FGE multi-client study focused on the Middle East domestic gas market. He is an internationally recognized expert on Iran and Middle East oil and gas sector. Siamak holds an MBA from Victoria University, Australia, an MA in Energy Economics from Islamic Azad University in Iran, and a BA in Economics from Allameh University in Iran.



Mr. Salar Moradi | Consultant, FGE London

Salar, born in Iran has specialist knowledge of the Middle East and is responsible for FGE’s regular analysis and forecasting of Middle East products, market developments, and trade flows. He liaises with FGE clients in the region and regularly writes reports assessing changing regional products trade flows and market opportunities. He also contributes to FGE’s international refining analysis. He has in depth knowledge of Iran’s refining and petrochemical sector and real insights on the role of the private and public sector in the current Iranian oil industry.Salar holds a Bachelor and Master degree in Chemical Process Engineering from University College London (UCL) in the UK and has a firm understanding of mathematical modeling and optimization.


Dr. Hossein Razavi | Distinguished Associate, FGE

Born in Iran, Hossein Razavi is an energy consultant working in the oil, gas, and electricity sectors. His work is focused on project preparation, project finance, and strategic planning. His work program is concentrated in the countries of the Middle East and North Africa (MENA).

Dr. Razavi worked at the World Bank for 25 years where he held various technical and managerial positions including the Chief of Oil and Gas Division and the Director of the Energy Department. He managed the energy and infrastructure portfolio of the World Bank in the MENA region including the energy and infrastructure projects in Iran. Prior to joining the World Bank, Dr. Razavi worked at the Iranian Plan and Budget Organization where he served as the Director General of Development Projects Bureau, and a member of the Project Approval Committee.

Dr. Razavi is well known in the international financial community for his pioneering work on structuring financial vehicles suitable to the energy sector. His book on Energy Finance, published by the Pennwell Books, is used by industry practitioners. He trains government officials and oil and gas executives on the subjects of energy finance, private sector development, and infrastructure policy. His publications include several books and numerous papers on project finance, energy strategy; and energy and environment.

Hossein holds a BS and MS in engineering from Tehran Polytechnic University, an MA and PhD from University of Maryland, and an Advanced Management Certificate from Harvard University.

Dr. Iman Nasseri | Senior Consultant, FGE London

Iman, born in Iran, is a specialist in energy and environment. At FGE, he works closely with the Middle East gas and NGL teams, with his primary focus being downstream oil and natural gas/LNG, energy policy, and environmental issues. In addition, Iman is also heavily focused on LPG markets as well as refining and product flows. He is involved in both commercial projects as well as the MENA Gas and Iran Oil and Gas retainer services.

Iman received his PhD in Economics, focusing on energy and environment, from University of Hawaii in 2013. He also has a Bachelor’s degree in Electrical Engineering and a Master’s degree in Energy Systems Engineering from Iran’s Sharif University of Technology.

He previously worked for Iran’s Institute of International Energy Studies (IIES), the research arm of the Ministry of Petroleum. It was at IIES that Iman was part of the Energy Management group, responsible for the production of the ‘Iran Annual Energy Balance’ report. In that role, he frequently met with experts from Iran’s Ministry of Petroleum as well as all the affiliated national oil and gas companies.

Mr. Shahriar Fesharaki | Executive Vice Chairman and Managing Director, FGE Hawaii

Shasha, born in Iran, is a specialist in the Middle East natural gas markets and has a special focus on the LNG markets in a global context.

He specializes in LNG marketing, and is responsible for providing buyers and sellers with sourcing and placement strategies for LNG and oversees gas consulting activities at FGE. His area of expertise spans the global LNG business and he has been involved in studies for FGE clients in identifying opportunities for marketing in the Asia Pacific and Middle East region. Within FGE he is responsible for identifying growth opportunities for the company and new emphasis on Iran is being developed as a major focus. Shasha holds an MBA in International Business from the University of Hawaii and a BA in Economics from Willamette University, Oregon.




Ms. Soraya Abachi | Advisor to the Chairman, FGE Hawaii

Soraya, born in Iran is a political scientist with focus on the Middle East and Iran. She has been responsible for overseeing a variety of projects in FGE and has worked in Iran’s Ministry of Education as an educator and teacher.

Soraya holds a BA and MA degree from the School of Politics and Social Sciences in Iran. She also holds a graduate degree in Politics from the University of Hawaii.

Ms. Iren Naseri | Office Manager, FGE Dubai

Iren, born in Iran is Office Manager for FGE’s Dubai office. She will be responsible for coordinating client interactions in the Middle East.

Iren holds a Master of Strategic Human Resource Management from the University of Wollongong, Dubai, and a BA in English Literature from Tehran University.

Dr. Reza Simchi | Principal Consultant, FGE Singapore

Reza, born in Iran, has 15 years of experience in energy trading and risk management. Reza has worked in crude oil, natural gas, and LNG markets in North America, Europe, and Asia. He has headed analytics teams for risk management and trading activities at Nexen Inc. for 12 years.

Reza has been very closely involved in commercial negotiations and business development of large heavy oil and shale gas assets for Nexen. He has also done a detailed analysis of LNG price scenarios for CNOOC. Reza is experienced in hedging of corporate and trading exposures both for commodity and FX. He headed the analytical side of hedging 200,000 barrels per day of Nexen’s oil production for many years. Reza has ample experience in implementing enterprise risk management and trading systems. He has been involved in implementing Openlink and Solarc at Nexen and Allegro at CNOOC.

Reza holds a Ph.D. in Mathematics from the University of Calgary and a B.Sc. in Physics from Tehran University.

Mr. Roozbeh Zomorodian | Consultant, Iran Representative

Roozbeh born in Iran, is FGE’s Iran representative based in Tehran. He is a consultant with the company and also in charge of development of new business for the company in Iran for international and domestic clients. He specializes in upstream business with a focus on gas and engineering. He has in depth knowledge and expertise on gas plants from upstream processing, through to transmission, and on to power generation

Roozbeh previously ran his own consulting company in Tehran, Oil Turbo Energy Company, providing technical and business consulting services to a number of companies in varying parts of the Iranian energy sector.

Roozbeh has a Master’s degree in Process-Energy Integration from Sharif University of Technology in Tehran, and a Bachelor’s in Mechanical Engineering from KNT University of Technology with over ten years of work in the energy engineering and consulting sector.

Iran Oil and Gas Retainer Service

• Iran Oil and Gas Monthly Reports on: — Lifting of the EU sanctions does not mean that Iran will be able to place some 600 kb/d of oil in Europe quickly. — The framework deal with Iran over its nuclear program has increased hopes for a final agreement by the June

deadline. — Pakistan and Iran have agreed to a two-year extension for completion of the Iran-Pakistan gas pipeline.

• Iran Oil and Gas Annual Report: — Key Issues to Watch, The Western Sanctions and Their Impacts on the Iranian Oil Industry, Iran’s Natural Gas

Perspective, Iran’s Economic and Political Snapshot in 2013-2014, Oil Development Projects, New Refining Projects, Overview of Gas Reserves, Planned Gas Processing Plants, and more.



Energy and Gas Advisories, Alerts, and Insights • Gas Advisory, Iran’s South Pars Gas Development: How Much Gas and Condensate Will Be Supplied to the Market? • Alert, Potential Impact of Iran Nuclear Deal • Gas Insights on:

— Iran’s Empty Pipelines: Business Opportunities for UAE Gas Players Post-Sanctions — Iran’s Gas Supply Deficit Still Persists? — What Happened to Iran’s “Most Radical Subsidy Reform Plan?”

• Energy Insights on: — Iran’s Oil Production Capacity: How Much Could Oil Production Bounce Back? — Iran’s New Contract Model: How Does It Differ From ‘Buy-Back’?

Special Studies, Strategic Studies, and Commercial Advisory Services

• FGE undertakes many studies on a confidential basis.

Examples of FGE Reports on Iran

Chairman’s Corner Reports

• Letters from Tehran - Post-Sanctions Policies Part 1: Why Everyone is Now an Iran Expert • Letters from Tehran - Post-Sanctions Policies Part 2: Oil Production, Marketing and OPEC • Letters from Tehran - Post-Sanctions Policies Part 3: SIRAF and the Condensate Outlook • Letters from Tehran - Post-Sanctions Policies Part 4: Products Supply and Trade Strategy • Letters from Tehran - Post-Sanctions Policies Part 5: Natural Gas Outlook and Export Options • Letters from Tehran - Post-Sanctions Policies Part 6: A Gold Rush in the Iranian Upstream Sector • The Quiet Revolution: Transformation of Iran’s South Pars Gas and Condensates Output

Contact Information

If you are interested in obtaining further information on FGE’s Iran Commercial Advisory Service, please contact FGE London.

FGE LondonTel: +44 (0) 20 7726 9570 Email: [email protected]

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