Tehran, July 5, IRNA -- Iran will be in dire need of development in
the oil, gas and petrochemical sectors in future, said oil Minister
Bijan Namdar-Zanganeh in Tehran on Monday.
Addressing the inaugural ceremony of the 9th Oil, Gas,
Petrochemical Exhibition here at Tehran International Fairground on
Monday, Zanganeh said, "If we work properly, we would be able to
address domestic demand, while partially meeting the demand of the
Persian Gulf littoral states and countries north of Iran."
To meet the target, the country is required to raise its
contracting and building capacity three-fold through investment in the
managerial and software sectors, he added.
Zanganeh said there are few contractors in Iran to be able to
undertake a rls 2,000 billion project.
He said cautious estimates put the amount of investment required
to be made in the national petroleum industry at dlrs 100 billion in
the next decade.
Committing 60 percent of the investment would mean creation of at
least dlrs six billion worth jobs for Iranians, the oil minister
He put the total amount of investment in the buy-back
projects at about dlrs 20 billion in oil and gas sector, and dlrs 15
billion in refining and distribution of domestic resources
"The bulk of investment- about dlrs 10 billion to dlrs 12 billion-
has been committed in the petrochemical industry," he added.
He said 40 to 45 percent of the capital investment has been
generated from domestic resources.
The minister stressed close contacts between Iranian and foreign
contractors to help promote national oil, gas and petrochemical
Meanwhile, Secretary of the Exhibition Akbar Nematollahi told the
audience that number of Iranian and foreign firms attending this
year's exhibition had risen by 37 percent and 56 percent respectively.
Nematollahi said the participating companies are from 34
countries, including Germany, Italy, India, Thailand, Poland, Canada,
the US, South Korea, China, Japan, India, Singapore, Turkey, Pakistan,
Austria, Qatar, Syria, Indonesia, Turkmenistan and Denmark.
... Payvand News - 7/6/04 ... --