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100 billion dollars of investment to be made in Iran's oil, gas, petrochemicals

Yazd, Aug 16, IRNA -- Advisor to Oil Minister said in Yazad on Monday that dlrs 100 billion will be invested in the gas, oil and petrochemical sectors in the fourth and fifth five-year economic development plans.

Speaking to a group of industrialists here on Monday, Mohammad-Taqi Amanpour, who is also managing director of Oil Derivatives Production and Procurement Logistics Company, said the bulk of investment would mark a major upheaval in executive structure of the Oil Ministry.

Amanpour said the government has invested dlrs 50 billion in South Pars gas field. He added that one billion dollars investment were annually made in oil, gas and petrochemical sectors over recent years.

He said efforts should be made to benefit from foreign investment in the oil, gas and petrochemical sectors.

Elsewhere in his speech, Amanpour said Oil Ministry annually spends dlrs 100 million on spare parts.

... Payvand News - 8/16/04 ... --

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