Azerbaijan, Baku, Jan. 10 / Trend F.Milad/
During the past 18 months, 254 experienced managers have left Iran's oil industry, creating a serious vacuum in this sector, the ex-minister of oil Kazem Vaziri-Hamaneh told the Pana news agency.
"The leaving of 254 efficient and veteran managers is one of the major challenges facing the oil industry," Vaziri-Hamaneh said.
He went on to say that the private sector cannot solely finance all the oil and gas projects in the country.
During the past 10 years, over 50 permissions have been issued for the private sector to construct refineries, but none has been built, he added.
Iran needs to invest $48 billion to spur development of its oil and natural gas industries, said deputy oil minister Mohsen Khojasteh-Mehr in October 2011.
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