TEHRAN – Iran’s Petroleum Minister Javad Owji said on Wednesday that $15 billion worth of oil and gas projects will be inaugurated in the country in the current Persian year (ends on March 20, 2024), noting that Phase 11 of the South Pars Gas Field is among them and will be put into operation within the next 2 to 3 months.
Iran’s oil exports have doubled since the administration of President Ebrahim Raisi took office, the oil minister stated.
He went on to say that Iran owns the highest amount of oil and gas reserves in the world, adding that the trend of oil, gas and petrochemical production in the current administration has considerably increased.
Some $15 billion worth of oil and gas projects will be inaugurated in the country by the yearend, he stressed.
The Oil Ministry has taken measures to make sure that cruel sanctions cannot deprive Iran of maximum development of its oil and gas industry, he said, noting that there exists an opportunity for investing $160 billion in down- and upstream projects in the country’s oil industry.