Iran plans to attract $185B for oil & gas projects
Baku, Azerbaijan, June 4
By Emil Ilgar - Trend:
Iran plans to attract $185 billion worth investments for the upstream and downstream oil and gas projects (including petrochemical plants) in the next five years, Iran's Deputy Oil Minister for International Affairs and Commerce Amir-Hossein Zamani-Nia told Tasnim June 1.
He said the newly designed oil contract, called the Iran Petroleum Contract (IPC), is not the only way for attracting foreign investments.
Zamani-Nia said $85 billion are planned to be invested in the upstream oil sector.
Iran introduced 49 oil and gas fields to foreign investors based on the IPC.
Earlier, Iran's Oil Minister Bijan Namdar Zanganeh said about $20-$30 billion foreign investments are expected to be attracted based on the IPC in the coming years.