MOP in talks with Investors to attract $85b of Finances: Official

Addressing a conference on the Joint Comprehensive Plan of Action (JCPOA) and the Economy of Resistance, the official said Iran’s petroleum industry has witnessed a major leap in its output since implementation of the Joint Comprehensive Plan of Action (JCPOA) and this is not something that can be hidden under smear campaigns.

He said the Iranian Ministry of Petroleum in currently in talks with foreign developers and investors for signature of 25 oil and gas deals valued at 85 billion dollars. 

He said Iran has been exporting an average of 2.639 million barrels/day of crude oil and gas condensate in recent months, generating 34 billion dollars since March 2016.

Zamaninia, who previously served in Iran’s diplomatic apparatus, further said the world’s oil and gas heavyweight are seriously seeking to join projects in Iran.

“Total has announced it is waiting to see the final US decision on Iran,” he added, saying, “The company has decided to invest some $5b in Iran which is a relatively big figure and has so far spent over $20m in Iran.” 

Speaking of Iran’s gas trade, the official said the country is ready to start gas flow to neighboring Iraq and will be exporting 50 mcm/d of the item to the Iraqi cities of Baghdad and Basra in the near future.