Iran plans to invest more than 18 billion dollars in oil and gas projects

Iran plans to invest over 18 billion dollars to develop oil fields in
the south of the country by the end of a five-year development plan
for 2010-2015, Iran News reports, citing the news agency Fars and a
statement by the Oil Deputy Minister, Mohsen Hodzhastemehra.

In June it was reported that Iran was planning to invest more than $38
billion in gas projects by the end of 2015. It was noted that as a
result of such large-scale investment gas production facilities in
Iran would double.

The report noted that Iran, which has the second largest oil and gas
reserves in the world, has faced sanctions from the United States
because of its nuclear program.