Iran Will Offer 40 Oil Projects to InvestorsSource: www.export-egypt.com 11/28/2015, Location: Asia |
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Iranian Assistant Petroleum Minister Roknoddin Javadi said that Tehran would offer 50 oil projects, as the country has been opening to foreign investment following the nuclear agreement with major world powers.
Javadi, also Managing director of the National Iranian Oil Company (NIOC), said at the opening of Iran Petroleum Contract (IPC) Conference, that Iran's oil reserve were estimated at 158 billion barrels, or 10 percent of the world's reserve. Gas reserve in Iran is estimated at 34 trillion cubic meters while daily production amounts to 800 million cubic meters, he said. Javadi called for boosting gas production by 80 percent, or to 1.4 billion cubic meters per day. He said Iran's crude oil production would reach 4.7 million barrels per day (bpd) by end of the five-year development plan, set to begin next March 21. Javadi, in a bid to lure investors, said oil storing centers in Iran were cheap and the country has big market for oil products. Some 335 companies, including 152 from 45 foreign states, are taking part in the IPC conference, including Royal Dutch Shell, Total and Lukoil and Gazprom. Iranian Minister of Petroleum Bijan Zangeneh has welcomed foreign investment in the energy industry, hoping to attract USD 20-30 billion worth of oil contracts in next two years. |
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