Tehran, Dec 1 (IANS) Iran plans to attract $70 billion for investments in its oil and gas industry, the country’s media reported Sunday.
The oil ministry has prepared a roadmap for investment in the oil and gas industry for the next eight years, reported Xinhua citing Iranian Oil Minister Bijan Namdar Zanganeh in Tehran Times.
The main priority will be placed on completing the projects in joint oil and gas fields, especially the development of the South Pars gas field which is shared with Qatar, he said.
Expansion of petrochemical units and refineries will be the second priority, he added.
Earlier this week, Zanganeh said Iran has begun talks with the potential investors in its energy industry, which may help western oil giants move back into the country.
Iran and six world powers reached a deal Nov 24 to curb Tehran’s nuclear programme, in exchange for limited sanctions relief. However, strict US and European Union bans on investments in its creaking energy sector remain in place.