Press TV - An Iranian parliamentary center has warned that Iran's oil exports
may face a plunge due to depreciation of oil wells and a jump in domestic
consumption.
Strategic Majlis (Parliament) Research Center said in its latest report that the
oil industry needs an annual $5.4 billion investment to keep the current volume
of crude exports.
"Regarding negative investment growth (in the oil industry), supplying this
amount of the investment is unlikely," Fars news agency quoted the research
center as saying.
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Alborz Oil Platform, Caspian Sea |
Iran, the world's fifth-largest oil exporter, put
its oil production capacity at 4.3 million barrels per day (bpd).
The center says the 'serious and fundamental investment' is necessary for the
oil-rich country.
In June, former Iranian Oil Minister, Gholam-Hossein Nozari, said that Iran
plans to invest $100 billion during the next four years in different sections of
its oil industry.
"Several projects, including the development of North Pars, Golshan and Ferdowsi
gas fields will be operational in the next four years," said Nozari, who added
that the total investment in Iran's oil projects has been $66 billion in the
past four years.
He went on to say that many people (in the beginning) did not believe this
amount of investment could be made, but that investment has now turned into real
operational projects, including the Mehr Petrochemical Complex.
... Payvand News - 10/24/09 ... --
