FGE provides commercial advisory services on Iran's oil and gas markets, leveraging decades of experience in the region. Their advisory team includes over a dozen specialists with expertise in Iran's energy sector. FGE's services include tailored reports, in-house training, a retainer service providing monthly updates on Iran's markets, and advising clients on investment opportunities, regulations, and stakeholders. Their advisory work covers upstream oil and gas, downstream refining and products, natural gas, petrochemicals, and power.

1. Leading consultancy for the oil & gas markets
www.fgenergy.com
FGE’s Commercial Advisory Service
Opportunities for Foreign Investment
in Iran
Real Insights Practical Solutions
Endless Opportunities

2. 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, Tokyo, Tehran, Hawaii, California, 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?
Leading consultancy for the oil & gas markets
www.fgenergy.com
The Sectoral Building Blocks of the FGE Commercial Advisory
Upstream Oil and Gas Downstream Oil and Gas
Natural Gas, Petrochemicals,
& Power
Available with a Commercial Advisory or on a Standalone Basis
Tailored Reports and
Ad-hoc Studies
In-house Briefing/Training
FGE’s Iran Oil and Gas
Retainer Service

3. Leading consultancy for the oil & gas markets
www.fgenergy.com
FGE’s Iran Commercial Advisory 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

4. Leading consultancy for the oil & gas markets
www.fgenergy.com
FGE’s Iran Commercial Advisory Service
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,aformerVicePresident,NewVenturesforConocoPhillipsinDubai,heldvarioustechnicalandmanagerial
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.
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.

5. Leading consultancy for the oil & gas markets
www.fgenergy.com
FGE’s Iran Commercial Advisory Service
Iran Commercial Advisory Team
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 and Acting Manager, FGE Tehran
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.

6. Leading consultancy for the oil & gas markets
www.fgenergy.com
FGE’s Iran Commercial Advisory Service
Iran Commercial Advisory Team
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 | Business Development, FGE Dubai
Iren, born in Iran handles Business Development in 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, FGE Tehran
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.

7. 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.
Leading consultancy for the oil & gas markets
www.fgenergy.com
FGE’s Iran Commercial Advisory Service
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

8. Leading consultancy for the oil & gas markets
www.fgenergy.com
FGE’s Iran Commercial Advisory Service
Contact Information
If you are interested in obtaining further information on FGE’s Iran Commercial Advisory Service, please contact FGE London.
FGE London
Tel: +44 (0) 20 7726 9570
Email: marketing@fgenergy.com