Iran expects $200 billion investment in its petro sector by 2021 – official

Iran’s goal of attracting $200 billion dollars in investments its petroleum sector is possible under the country’s current five-year plan ending in 2021, Shana news agency quoted a senior government official as saying.

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

He said the private sector and foreign investors are expected to bring in $130 billion, while the rest will be invested through the National Iranian Oil Company’s resources.

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.

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

India, hungry for fuel, recently said Indian companies could invest up to $20 billion in Iran’s petroleum sector and were keen to set up petrochemicals and fertiliser plants, including in the Chabahar Special Economic Zone.

 

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