BAKU, Azerbaijan, May 10. Iranian petrochemical companies may invest in the country’s oil industry within the proposed projects, Iranian Deputy Oil Minister and the CEO of the NIOC, Mohsen Khojasteh Mehr said, Trend reports citing Shana News Agency.
According to Khojasteh Mehr, a total of $160 billion should be invested in Iran's oil industry over the next eight years.
“Of the investment, $70 billion should be invested in the development of gas fields, while $90 billion - in the development of oil fields. As a result, the country’s crude oil extraction capacity will increase to 5.7 million barrels per day, while gas extraction capacity - to 1.5 billion cubic meters per day,” he said.
The deputy minister noted that the country's petrochemical companies may invest under small-scale packages worth $200 million to $1 billion.
The CEO also pointed out that it will be possible to return the investment made under these packages soon. In total, the investment required for small plans is $3.5 billion.
“At present, Iran needs $4 billion worth of investment in the North Pars gas field. If the mentioned investment is made and the field developed, it will be possible to extract 100 million cubic meters of gas from this field per day,” Khojasteh Mehr added.
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