Iran’s Oil Ministry Has $150bn of New, Semi-Finished Projects at Hand

Date: 12 May 2024 - 22:22

News ID: ۱۲۷۲۳۶

TEHRAN – Iran’s Petroleum Minister Javad Owji said on Sunday that the ministry is currently implementing about $150 billion of new and semi-finished projects.
Speaking on the sidelines of the signing ceremony of 11 contracts and agreements at the end of the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition entitled “Iran Oil Show 2024”, Owji said his ministry, in cooperation and coordination with the government, has tried to increase the attractiveness of current contracts of the oil industry for investors
He also said that the exhibition helped state-owned companies in the oil industry, domestic manufacturers and producers to identify their requirements accurately.
Some 1,700 domestic companies active in the oil and gas sectors took part in the Iran Oil Show 2024 to display their latest achievements and technologies, he said.
Elsewhere in his remarks, Owji announced the final stages of the construction operation of 1,000 km of pipeline for the transfer of oil products in the country, noting that between 16,000 and 20,000 tanker trucks are currently transporting fuel for the gas stations at a high cost.
The Oil Ministry, the National Iranian Oil Company (NIOC), and the vice-presidency for science and technology inked 15 contracts and agreements with the Iranian companies valued at $1.1 billion.