Iran allocates $ 1.5 billion for oil fields in Persian Gulf

The National Development Fund (NDF) of Iran has allocated $1.5
billion to develop Iran's oil fields in the Persian Gulf, the managing
director of the Offshore Oil Company Mahmoud Zirakchianzade said.

Earlier, Zirakchianzade said that Iran was ready to sign new oil
contracts worth $14 billion. The contracts mention the development of the
Farzad A & B, Soroush, Kharg, Esfandiar, Alfa, Tousan and other
fields.

According to Iranian laws, 37.5% of oil revenues are allocated for the
development of oil and gas deposits