Iran to Invest $18 Billion in the Country’s Southern Oilfields
Despite the crippling effect of foreign sanctions, the Iranian government has decided to invest $18 billion in the country’s southern oilfields to boost production.
Iran's Deputy Oil Minister for Planning Mohsen Khojastemehr said that the majority of the $18 billion investment schedule, planned to extend over the next four years, will be underwritten by Iran, adding that about $3 billion would be spent on the projected southern projects by March 2012.
Khojastemehr said, "Many plans are being implemented to accelerate development of shared oil and gas fields while the ministry aims to increase oil production in the oil-rich region of the South
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Iran's Deputy Oil Minister for Planning Mohsen Khojastemehr said that the majority of the $18 billion investment schedule, planned to extend over the next four years, will be underwritten by Iran, adding that about $3 billion would be spent on the projected southern projects by March 2012.
Khojastemehr said, "Many plans are being implemented to accelerate development of shared oil and gas fields while the ministry aims to increase oil production in the oil-rich region of the South
Read more...
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