16 May 2007 - 09:44
  • News Code: 104776

TEHRAN –Petroleum Ministry has vowed to allocate $110,270 million (1.02 trillion rials) to the oil-rich regions in the south, said an official of the ministry on Tuesday.

Hossein Shahabeddin, the executor of the plan on financial support for the oilfields, said $25.729 million (238 billion rials) of the figure has been allotted up to now.

The budget is ready for the projects but will not be completely paid at once, he added in a Mehr report.

Shahabeddin said that the budget will fund 335 projects, adding that the projects are public utilities and the ministry will not make any interest out of them.

News Code 104776

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