National Iranian Oil Company's assets value at $200 billion

Oil&Gas Materials 4 July 2011 13:25 (UTC +04:00)

Azerbaijan, Baku, July 4 /Trend/

The value of National Iranian Oil Company ' s assets is estimated to $200 billion, Iranian daily Donya e Eqtesad reported quoting Deputy Oil Minister Mohsen Khojaste Mehr as saying.

"The National Iranian Oil Company's revenue will increase by $350 billion in next four years," he said.

The National Iranian Oil Company is committed to attract $150 billion new investments in v arious upstream and downstream oil projects under the Fifth Development Plan (2010-2015).

Iran has OPEC's second-highest oil output, and ranks second in the world in terms of natural gas reserves after Russia.