Iran assigns USD330m to oil/gas research studies

(MENAFN) Iranian has allocated a total of USD330 million for research and development schemes in oilfields by Iranian universities and research centers.

In accordance, this huge amount of money only hints at the nation's utmost attention and concern about the entire oil industry's development in the long run.

For the 1st time in the history of Iran's oil industry, research schemes have been ceded to local universities to carry out research projects in Iranian oil/gas fields.

Moreover, now that US-led bans on Iran's economy are being lifted, the universities will benefit from support with foreign partners in petroleum studies.