“To develop the joint fields and enhance recovery of oil reservoirs as well as secure development targets, we need investment totaling 200 billion dollars,” he told reporters on Tuesday in a press conference to mark the 37th anniversary of the victory of Islamic Revolution in Iran.
“The new oil contract models were devised with the objective of materializing this target by signing of new contracts,” he added in a Shana report.
He divided the required investment in the upstream sector of the oil industry to 130 billion dollars and for the downstream sector including in the petrochemical, renovation and construction of new refineries at 70 billion dollars.
