NIOC Investing Rls. 70,000 billion in Poverty Eradication Projects: CEO

TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC), referring to the fulfillment of social responsibilities of the oil industry, said: “Rls. 70,000 billion have been approved by the board of directors of the National Oil Company for carrying out public benefit projects and eradication of deprivation.”

According to IRNA, Mohsen Khojastehmehr said on Tuesday (May 17) that in the 26th Iran International Oil, Gas, Refining and Petrochemical Exhibition more than 100 contracts and memoranda were signed, adding NIOC signed memoranda of understanding worth over 3 billion dollars during the fair which ran from May 13 to 16 at Tehran’s permanent fairgrounds.

He further said that production of gas from Phase 11 of the massive South Pars gas field would begin during the current calendar year, which began on March 21.

News Code 457168

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