Iran's joint fields to attract $40 billion investment

Oil&Gas Materials 6 August 2011 11:30 (UTC +04:00)

Azerbaijan, Baku, Aug. 6 / Trend /

Iran 's joint fields will attract $40 billion investment from domestic and foreign sources, IRNA reported quoting Oil Minister Roustam Ghasemi as saying.

"The development of joint fields requires high investments and therefore, we use domestic and foreign sources to provide investments," he said.

Government would provide part of investments from the public budget, but the other part requires private sector and bank investments, he added.

He noted the National Iranian Oil Company will issue bonds to provide financial aid to oil projects.

Ghasemi said earlier that acceleration of the South Pars development plan and joint fields with Iraq and boosting human resources are among his priorities.

Roustam Ghasemi previously served as the Iranian Revolutionary Guard Corps Brig Gen and commander of Khatam al-Anbya Construction Headquarters.