Iran needs $200 billion of investment for development of the country's oil industry, but it is important to attract foreign investors as well, the Iranian oil minister, Bijan Namdar Zanganeh, said today.
"We need an investment amounting to $200 billion to develop joint fields and enhance recovery of oil reservoirs as well as secure development targets," RIA Novosti cited him as saying.
The industry’s upstream projects need $130 billion of investment, while the downstream projects demand $70 billion.
"We don't have enough domestic sources to develop the oil industry," the Iranian minister noted.
