Azerbaijan, Baku, Nov.20/ Trend G.Mehdi/
The National Development Fund (NDF) of Iran has allocated $1.5 billion for developing oilfields located in the Persian Gulf, IRNA quoted Iranian Offshore Oil Company's managing director Mahmoud Zirakchianzadeh as saying.
The sum will be spent on developing a number of fields, such as Esfandyar, he added.
According to the law, 37.5 per cent of oil revenues go to the development of oil and gas fields and is deposited into the NDF and 62.5 per cent is spent as the current budget.
On October 14, Zirakchianzadeh said that Iran has prepared new oil development plans at an estimated cost of $14 billion, related to oilfields located in the Persian Gulf.
"As much as $20 billion worth of deals have been signed within the past two years," he said, "Some $14 billion worth of new deals have been prepared and will be offered to contractors," he added.
The deals are related to Farzad A & B, Soroush, Esfandyar, Tossan, and Alfa fields, Zirakchianzadeh noted.
Iran has also attached priority to boosting gas production capacity at its joint oilfields with Qatar and Saudi Arabia.