Tehran, Dec 8, IRNA - Predictions show that the world will invest 8.2 trillion dollars in the oil and gas sectors until 2030 and the National Iranian Oil Company's share will be 15.7 billion dollars per annum.
The NIOC production affairs deputy told PIN, "Out of 8.2 trillion dollars, 4.3 trillion dollars will be invested in oil industry and 3.9 trillion dollars will go for gas sector."
Mohammad-Javad Assemipour added 75 percent of investment in oil sector and 60 percent of fund for gas industry would be allocated to the upstream projects.
"Iran will also invest 6.4 billion dollars in the upstream oil industry and 9.3 million dollars in the upstream gas industry per year," said the official.
The NIOC deputy said the company received almost one-third of the required fund, 15.7 billion dollars yearly and therefore the NIOC needed to supply 10.7 billion dollars through foreign capital.
According to the National Petrochemical Company (NPC), the Vision Plan includes four five-year plans that started in 2005.
The country's current petrochemical production capacity is 32 million tons and the figure is expected to touch 45 million tons by the end of the first five-year plan.
Based on the first plan, Iran invests 12.5 billion dollars in 24 petrochemical projects, PIN reported.
According to the statistic, the NPC produced about 15 million tons of products last year while its real output in 1991 stood at 4.3 million tons, showing that the company's production had tripled within 15 years.
Iran held 0.9 percent share of the world's total petrochemical output in 2005. The figure is predicted to touch 3.5 percent by the end of 2010.
During the past years, Japan, the United Arab Emirates, China, India, South Korea, Italy, Singapore, and Taiwan were the main target petrochemical markets for Iran, accounting for 86 and 80 percent of Iran's export-bound products in terms of weight and value respectively.
National Petrochemical Company is currently producing 67 types of petrochemical products.
Petrochemical production in Iran witnessed a 21.4 percent growth late last August when compared to that of August 2005.
According to the Barnameh (Plan) weekly, 16.65 million tons of petrochemical products was produced in the first year of the ninth government's rule and the figure hit 20.22 million tons in its second year to August.
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