Oil expo a sanctions buster, Iran says

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TEHRAN, Feb. 23 (UPI) -- Tehran will host its 14th International Oil, Gas and Petrochemical Exhibition toward the end of April, saying it will overcome the effects of sanctions.

Exhibition director Ziaoddin Nouroddini hailed the convention as a way for international companies interested in the Iranian energy sector to dampen the effects of Western-imposed economic sanctions, the Tehran Times reports.

"By taking part in the fair, the foreign companies will make the sanctions against Iran ineffective," he said.

The director said organizers expect some 800 domestic and 500 foreign companies from 35 countries to take part in the convention.

Iran said last week that French supermajor Total could sign a $5 billion contract for development at the South Pars gas field by the end of March.

Beyond the Total deal, Tehran has touted its economic ties with Russia and Azerbaijan in the energy sector.

Tehran's Permanent International Fairground will host the exhibition from April 21-25.