Iran to launch oil projects worth $14.5b by March: Minister
Sixty-four oil industry projects, with a total investment of $14.5 billion, will be launched in Iran by the end of the current Iranian year (March 19, 2024), announced Oil Minister Javad Owji on Saturday.
“Despite the harsh conditions and problems created by the sanctions, including difficulties related to financing, or the provision of some sensitive and complex equipment, the Oil Ministry has not neglected investment in this strategic industry, which is the driving force of the national economy,” he told Shana.
Owji said the executive operations for 15 new projects, worth $14.3 billion, will also begin in the current year. “Investment in the oil industry must be pursued without interruption, and, as I have said many times before, the oil industry needs large investments, and we must not forget that the return of these investments in the oil industry for the national economy is much higher than other economic sectors,” he noted.