Iran plans to attract USD 25 billion in oil investment
Iran Daily reported that National Iranian Oil Company plans to attract USD 20 billion to USD 25 billion worth of investment for its development, exploration and seismic projects in the current Iranian year.
Announcing this, Mr Ahmad Qalebani, NIOC's managing director, said that last year, USD 24 billion were invested in oil projects.
Speaking in the closing ceremony of the seismological operations of Ahvaz oilfield, Mr Qalebani thanked the efforts made in the exploration and seismic sectors.
He said that "In the past two years, we had the best performance in exploration projects and our activities crossed the projections made by the Fifth 5 Year Economic Development Plan.”
He stressed that at present, a major part of NIOC's upstream projects is implemented by the domestic staff and experts, which is indicative of the abilities of Iranian workforce and domestic contractors in the oil sector. Conducting the 3 dimensional seismic studies in Ahvaz oilfield was among NIOC's major projects.
The implementation of the project began in the second half of last year with a credit of IRR 550 billion in an area of 1,500 square kilometers. It was Ahvaz oilfield's first 3 dimensional seismic operation. Since 1951, NIOC has been making and implementing policies for the exploration, drilling, production, research and development, refining, distribution and export of oil and gas products.
Source - Iran Daily