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Iran's Buyback Projects Will Generate 17 Billion Dollars Annually

Iran will earn more than US$17.4 billion per annum once the 17 ongoing buyback projects become fully operational, Pars Investment reported from Tehran.

The completion of the buyback projects will help boost national oil production by 630,000 barrels per day (bpd). The daily production of natural gas and gas liquids will also increase by 300 million cubic meters and 475,000 barrels accordingly. Some 80 percent of the buyback projects relate to the development of major oil and gas fields, such as South Pars, Salman, Farzam, Forouzan and Esfandiar. A total of US$15 billion in foreign direct investments have been made in buyback projects. The country will have to repay US$26.5 billion. Buyback projects are expected to generate revenues of some US$400 billion over a 30-year period.

... Payvand News - 7/9/04 ... --

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