21 May 2007 - 23:20
  • News Code: 105220

TEHRAN – More than 20 billion dollars has been invested in oil industry projects over the past five years.

Director of combination planning at the National Iranian Oil Company told Petroenergy Information Network that total credits needed for implementing oil industry projects through domestic resources of the National Iranian Oil Company has been estimated at 40 billion dollars, half of which has been invested in the past five years.

Abdol-Mohammad Delparish added that the projects have been funded according to a ratification of the Islamic Consultative Assembly (Majlis).

The official said approved budget of the National Iranian Oil Company stood at 4.5 billion dollars in 2006 and if no new project is defined, the underway projects will be implemented through internal funds of the company.


News Code 105220

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