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Iran plans to develop 180 oil and gas fields - official

Business Materials 29 April 2013 17:16 (UTC +04:00)

Azerbaijan, Baku, Apr.29/ Trend F.Karimov/

Some 180 oil and gas fields in Iran will be developed in the future, ISNA quoted National Iranian Oil Company official Abdolmohammad Delparish as saying.

Some 160 oil and gas fields are being developed, he said. By the end of the Fifth Five-Year Development Plan (2015) daily crude oil and natural gas production capacity will reach 5.1 million barrels and 1.5 billion cubic meters per, respectively.

Oil Minister Rostam Qasemi has said that some $30 billion was invested in the Iranian oil industry in the past calendar year, which ended on March 20.

All this came despite all the financial problems, Qasemi said, adding the figure is anticipated to grow in the current year.

In October 2012, Qasemi said that Iran is investing $100 billion to boost its oil and gas production.

"As part of a new government policy to boost energy production, we are currently investing $100 billion in new oil and gas exploration and production," he added.

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