Iran to ink six new oil and gas deals by mid-May
Azerbaijan, Baku, Apr. 3 /Trend F.Milad/
Six new oil and gas deals will be signed by the end of the second calendar month of Ordibehesht (May 21), managing director of the National Iranian Oil Company Ahmad Qalebani said on Tuesday, without giving details on the value of the deals.
Qalebani told Mehr news agency that 16 contracts, worth around $21 billion, were signed in the past calendar year.
He added that according to the Fifth Five-Year Development Plan (2010-2015), some $30 billion should be invested in oil and gas industries each year.
The Iranian oil minister has said that the global economic sanctions against the Islamic Republic will not be effective to hinder the country's oil industry progress.
IRNA news agency quoted Rostam Qasemi as saying that the ministry is committed to accelerate the implementation of development plans benefiting from financial resources of the banking system as well as issuing bonds.