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Iran urges investment in oil, gas sectors

Madrid, July 3, IRNA - Iranian Oil Minister Gholam-Hossein Nozari called on Wednesday for making proper investments in various oil and gas sectors. He made the remarks in a meeting with Spain's Minister of Industry, Tourism and Commerce Miguel Sebastian held on the sidelines of the 19th World Petroleum Congress.

Nozari is currently in Spain to attend the gathering.

The world would witness unbelievable prices of oil and gas in near future, if no adequate investment was made for exploration and exploitation of oil and gas, particularly in those regions which possessed rich energy resources, said the Iranian minister.

He voiced Tehran's readiness to boost cooperation with Spain in energy field.

Meanwhile, the Spanish minister said that Madrid was resolute to expand cooperation with Iran, particularly in energy fields.

Sebastian added that Iran-Spain cooperation was necessary for meeting energy demands of the Europe.

Referring to the activities of Spain's Repsol and Union Fenosa companies in Iran, Sebastian called for further cooperation of Spanish companies with their Iranian counterparts.

... Payvand News - 07/03/08 ... --

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