Azerbaijan, Baku, Oct. 6 /Trend A. Yusifzade /
The Iranian Oil Ministry has an unprecedented $50 billion at its disposal and 12 foreign companies are ready to invest in Iran's oil industry, Mehr news agency quoted Iranian President Mahmoud Ahmadinejad as saying.
"Despite sanctions imposed against Iran, currently 12 foreign companies have announced their willingness to invest in our oil industry," Ahmadinejad said.
According to BP Company, Iran's proven oil reserves hit 137.6 billion barrels of oil and 29.61 trillion cubic meters of gas.