Iran’s local companies to finance USD39B in oil, gas busines...| MENAFN.COM

Saturday, 24 September 2022 11:08 GMT

Iran’s local companies to finance USD39B in oil, gas business


(MENAFN) Chief of Iran’s Planning and Budget Organization (PBO) has stated that deals for USD29 billion of investment in the oil and gas industry ventures have been settled with local companies, and additional USD10 billion value of new investment agreements are going to be included in the near future, according to Shana report on Sunday.

Masoud Mirkazemi stated that throughout the last month several working groups and consortia have been established in PBO which caused the inking of a USD7 billion deal for the establish of the combined Azadegan oil field and a USD19 billion memorandum of understanding (MOU) for the building of two petrochemical plants.

Mirkazemi stated that “We are also preparing another USD10 billion worth of projects to be awarded, so it is necessary to use different methods and initiatives to attract the necessary resources.”

In early September last year, Oil Minister Javad Oji stated that his ministry was taking needed preparations and planning for gaining USD125 billion of foreign and domestic investment in the nation’s oil and gas industry within the upcoming four to eight years.

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