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Iranian companies' share in oil projects to hit 35 billion dollars

Tehran, Aug 9, IRNA -- The share of Iranian companies and contractors in implementation of domestic oil projects will increase from current 27.5 billion dollars to 35 billion dollars, the Persian-language daily 'Mardomsalari` said on Monday.

Based on the latest statistics released by engineering and technology department of Iran's Oil Ministry, the share of domestic manpower in implementing oil projects will reach from the current figure 15.4 billion dollars to 19 billion dollars within the next five years through the goals set for oil industry in the Fourth Economic Development Plan and within a total 50 billion dollars investment.

Iranian contractors and engineering consultancy companies are currently undertaking equal to 2.8 billion dollars engineering projects of oil industry which will reach 3.2 billion dollars in the next five years.

Current share of Iranian companies from purchase of goods and equipment stands at 3.6 billion dollars while from construction and installation is 9 billion dollars.

The figures are expected to increase by 5.6 billion dollars and 10.2 billion dollars respectively by the end of the Fourth Economic Development Plan.

... Payvand News - 8/9/04 ... --

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