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8/27/05

Iran: Average foreign investment in oil sector stands at $480m

TEHRAN, Aug. 27 (Mehr News Agency) - The average amount of foreign investment made in exploration and development operations at 11 oil blocks in the country is about 480 million dollars.

Out of the 96 identified oil blocks inside the country, 11 are being explored and developed independently by foreign companies, they are mainly Norwegian, Austrian, Chinese, Italian, Indian, Brazilian, Spanish and Thai companies. Minimum investment made by the companies, however, is reported to be about 478,500,000 dollars, Iranian Students News Agency (ISNA) reported.

The report puts investments made in the oil blocks of Anaran at 136 million dollars, Khorramabad at 49.5 million dollars, Monir at 49 million dollars, Zavareh and Kashan at 43 million dollars, Mehr at 42.3 million dollars, Garmsar at 38.95 million dollars, Towsan at 32.8 million dollars, Farsi, Iranmehr and Foruz at 37 million dollars.

The report quoting figures published by the Oil Ministry comments that Anaran, Zavareh and Kashan oil blocks are at their late exploration phases and have good chances of turning into commercial oil fields.

... Payvand News - 8/27/05 ... --



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