Iran eyes $145Bln of investment in oil industry: Owji

22 September, 2021

Iranian Oil Minister Javad Owji referred to the Oil Ministry’s plans to attract $ 145 billion in domestic and foreign investment in the oil industry over the next four to eight years and stated: “The 13th government was determined to expand cooperation with Chinese companies,” reported the News Agency of Iran Oil Ministry.

Speaking in a meeting with Zhong Guidong, President of Sinopec Iran Branch, in Tehran yesterday, 21st September 2021,  Owji stated: “The 13th administration is ready to cooperate fully with Chinese companies to develop oil industry projects in the upstream and downstream sector and we expect to have many partnerships and agreements between Iran and China.”

He stated that he knew about Sinopec's ability to implement upstream and downstream projects and added: “Last week, during my visit to the operational areas of Khuzestan province, I visited Yadavaran oilfield, the first phase of which was developed by Sinopec.”

He stressed the importance of completing the development of 2nd phase of Yadavaran shared oilfield and said: "Fortunately, Sinopec has been in charge of the development of the first phase of Yadavaran oilfield."

Early September and In his first meeting with foreign companies, Owji met with Li Yingchang, the Deputy Director of the Middle East Division of the China National Petroleum Corporation (CNPC). CNPC was involved in development project of North Azadegan oilfiled.

The full version of website content is available only to IranOilGas Network members.
Register & Request a Trial Now!

About IranOilGas Network

Established by highly experienced oil & gas professionals in 2000, IranOilGas Network is the leading independent Iranian oil, gas & petrochemical information network providing a variety of consultancy & information services.

to IranOilGas Network