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Iran Oil and Gas Industry Attracts $2 Billion Foreign Investment.

The company said in a report that its foreign investment attraction will see a 600-million-dollar increase from last year.

It added that the PEDEC-administered hydrocarbon fields are estimated to produce one billion barrels of oil and gas a year by next year after the implementation of nearly 40 oil and gas field development projects.

PEDEC is currently developing Yadavaran, North Azadegan, South Azadegan, North Yaran, South Yaran, Azar, Changouleh, Darkhoein, Band Karkheh, Mansouri, Kuhmund, Kuh Kaki and Bushgan, Zagheh and Ferdowsi oil fields as well as Kish gas field and Salman oil/gas field.

Construction of natural gas liquid (NGL) plant, strategic crude oil storage facilities, West Karoun Power Plant, West Karoun Gas and Liquefied Gas Plant, West Karoun Pumping Facility and national metering project are under way by PEDEC.

In the Iranian calendar year to March 2012, PEDEC attracted 1.1 billion dollars in foreign investment. The figure soared to 1.4 billion dollars a year later.

"Given the signature of a contract for [the development of] South Azadegan oil field -- as the biggest development project with the projected daily output of 320,000 barrels a day in the first phase -- the volume of investment in PEDEC has increased," PEDEC Managing-Director Nader Qorbani told Shana.

The official added that PEDEC-run fields' oil production has increased by 720,000 b/d.

Domestic and foreign consortiums are financing these development projects.

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Publication:Moj News Agency (Tehran, Iran)
Date:Sep 4, 2013
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