Iran’s oil industry requires 150 billion dollars of investment during the Sixth Development Plan (2016-2022), the Director General of Strategic Planning in the Ministry of Petroleum, Saied Qavampur, said today.
"Iran hopes that the private sector and foreign investors will allocate 100 billion dollars. The rest will be financed by local sources which will mainly be directed to upstream oil and gas projects,"Qavampur said, stressing that the ministry’s strategic objectives include increasing production capacity of petrochemical complexes, gas export, oil well injection, and production of Euro III and Euro IV petrol plants, TASS reports.
In the case of realization of these plans "Iran’s export of gas will increase to 200 million cubic meters daily," and "Iraq, Pakistan, UAE and regional countries will be Iran'ss destinations in the coming years", he added.
