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$30 Billion to Be Invested in Iran Oil Industry This Year

Source: Shana 4/4/2012, Location: Asia

At least 30 billion dollars will be invested in Iran’s oil industry this year and lion’s share of it will be allocated to South Pars gas field projects, Iranian minister of petroleum, Rostam Qasemi said.

Speaking in a meeting with managers of petroleum ministry’s subsidiaries, Mr. Qasemi stressed on importance of paying attention to production and using domestic capabilities in new year’s activities.

Referring to the Supreme Leader of the Islamic Revolution’s visit to oil industry facilities at the beginning and final days of last Iranian year, Mr. Qasemi noted that these visits had put a heavy burden on shoulder of those involved in oil industry’s activities.

‘Rising production, strengthening links between industry and universities, opening the doors to youths and innovation are among the main demands of the Supreme Leader of the Islamic Revolution from oil industry in new year’, the official said.

Qasemi said on April 1 that oil industry would face fewer problems this year due to support from the president and other officials stating it is expected oil industry to rely increasingly on domestic capabilities.

The minister said that getting help from banks’ resources, energy funds and oil bonds were among the oil industry plans for advancement of current year’s oil industry targets.

Referring to new laws passed by the parliament for oil industry workforce, Qasemi expressed hope new year to be a year full of work and effort in direction of achieving the oil industry’s goals.

He also expressed satisfaction with the oil industry achievements during the past year which was named the year of Economic Jihad by the Supreme Leader adding signing a number of contracts relating to development of shared oil fields were among the last year’s successes.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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