Aletho News

ΑΛΗΘΩΣ

Iran near $30bn oil deals with foreign firms

Press TV – February 6, 2010

Iran is in the final stage of talks with five companies to finalize deals for the development of oil and gas fields worth $30 billion, an official says.

Seifollah Jashnsaz, Managing Director of the National Iranian Oil Company (NIOC), predicted that the deals will be finalized within two months.

Speaking to Mehr news agency, he added that five Asian and European firms are expected to invest in the Lavan gas field, Phases 13 and 14 of the South Pars gas field, the Azadegan oilfield, the Kish gas field, and two exploratory blocks in the Caspian Sea. Jashnsaz did not give further details.

Iran’s fifth five-year development plan (2010-2015) has obliged the government to invest around $155 billion in the upstream sector of the oil and gas industry.

Jashnsaz said Iran’s total revenues from oil exports stood at $78 billion during the Iranian calendar year to March 2009.

The NIOC chief also added that the government allowed the Oil Ministry to invest $11 billion from its oil sales in oil industry development.

Jashnsaz stressed that Iran needs to attract more foreign investment to keep the oil industry live. “If we do not make the necessary investment, the harm of the lack of timely investment in the oil industry will be irreversible to the country,” he pointed out.

“We must go after foreign investment, the possibility of which also exists,” he said.

February 6, 2010 - Posted by | Economics, Wars for Israel

No comments yet.

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.