Iran’s Oil Minister, Gholam Hossein Nozari, has announced that the country has invested over US$66 billion in the hydrocarbons sector over the last four years.
The Moj News Agency reported that Nozari said that $48 billion had come from within the country itself while $18 billion came from foreign investment.
The majority of the money has been spent developing Iran’s enormous gas reserves with a $20 billion investment on liquefied natural gas (LNG) production from the North Pars gas field, $16 billion on increasing production from the Golshan and Ferdows gas fields and a further $20 billion on the South Pars gas field.Â
Nozari also stated that Iran’s gas pipeline network had been increased substantially from 105,000km to 157,000km.
Iran’s downstream capacity has also been increased significantly since 2005 and as a result petrochemicals production capacity had been increased to 24 million tonnes.Â
