Winning Investment of $200bn “Possible”: Official

A senior official with the Iranian ministry of petroleum says the goal of attracting $200 billion dollars in investments only in Iran’s petroleum sector is possible under the country’s 6th five-year development plan (2016-2021).

Speaking with Shana, Saeid Ghavampour, director of strategic planning at the Iranian ministry of petroleum, said, “Now that sanctions are removed and Iran’s international interactions are bolstered, new deals are being signed with international financiers which will materialize the envisaged $200 billion dollars in investments under the 6th development plan.”

He said the private sector and foreign investors are expected to supply 130 billion dollars of the capital, and the rest of the money will be supplied by National Iranian Oil Company‘s resources by 2021.

“This amount of investment is necessary for fulfilling Iran’s petroleum projects,” the official said.

Under the 6th development plan, Iran will consider enhancing production of oil and gas, and feedstock supply to refineries, boosting production capacity of petrochemical plants, export and import of natural gas, adding to injection of gas to oil reserves, reducing consumption of fuel oil and raising production of Euro-4 and Euro-5 gasoline.

He said Iraq, Pakistan, the UAE, and other regional countries will be future destinations of Iran’s gas exports within the plan.

Export of liquefied natural gas (LNG) will also reach 0.2 mcm/d by 2021, he added.

(Source: Shana)

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