Iran needs USD22B of investment to keep production level over coming years
(MENAFN)ILNA quoted Iranian Oil Minister Javad Oji as saying that the country needs more than USD22 billion of investment to maintain production level of the country’s gas fields over the coming six to eight years.
Oji also said on the sidelines of a visit to the southwestern oil-rich Bushehr province, citing the abundant gas reserves in Bushehr province that about 50 percent of Iran’s gas reserves and about 10 percent of the country’s oil reserves are in Bushehr province.
The official further declared that “During our visit to Bushehr province, we will discuss the completion of semi-finished oil and gas projects.”
A project for evaluating new methods of improving the recovery factor of the country’s gas fields is going to start by the end of the current Iranian year, he added.