Iran: Will Spend $18B on O&G Fields in South through 2015
LONDON (Dow Jones Newswires), July 11, 2011
Iran will invest $18 billion in the development of its oil and gas fields in the hydrocarbon-rich south of the country in a 5-year development plan ending 2015, its deputy oil minister in charge of planning was quoted as saying Sunday.
The remarks comes as Iran is moving forward with projects to develop its oil and gas capacity despite international sanctions.
Speaking to Iran's oil ministry website Shana, Mohsen Khojastemehr said the plan included a $3 billion investment planned for the current Iranian year, which ends March 2012.
"Many plans are being implemented to accelerate development of shared oil and gas fields while the ministry aims to increase oil production in the oil-rich region of the south to 3 million barrels a day," the official told Shana.
Copyright (c) 2011 Dow Jones & Company, Inc.
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- Oil Markets Were Already Positioned for Iran Attack
- An Already Bad Situation in the Red Sea Just Got Worse
- Valeura Makes Three Oil Discoveries Offshore Thailand
- EU Offers $900MM in Funding for Energy Infrastructure Projects
- Chile's ENAP Says Working on Decarbonization Plan
- Germany to Provide $2.3B Aid for Decarbonization of Industrial Sectors
- Mexico Presidential Frontrunner Plans to Spend Billions on RE, Gas Power
- SBM Bags Contracts for ExxonMobil's Latest Guyana Project
- Macquarie Strategists Warn of Large Oil Price Correction
- JPMorgan CEO Says LNG Projects Delayed Mainly for Political Reasons
- USA, Venezuela Secretly Meet in Mexico as Oil Sanctions Deadline Nears
- EIA Ups Brent Oil Price Forecast for 2024 and 2025
- Petrobras Discovers Oil in Potiguar Basin
- EIR Says Oil Demand Will Not Peak Before 2030
- Biden Plans Sweeping Effort to Block Arctic Oil Drilling
- Pantheon Upgrades Kodiak Estimates to 1.2 Billion Barrels
- Dryad Flags Red Sea 'Electronic Warfare' Alert
- Russian Oil Is Once Again Trading Far Above the G-7 Price Cap Everywhere
- Oil and Gas Executives Predict WTI Oil Price
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Another Major Oilfield Discovery
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024