Investment in oil, gas industry among most important links in Iran’s independence chain: First VP

SHANA (Tehran) – Investment in the oil and gas industry is one of the most important links in Iran’s independence chain, said First Vice President Mohammad Mokhber.

Speaking in a ceremony to sign upstream contracts for the development of six oil fields on Sunday, the top official extended his appreciation to the Oil Ministry for making unprecedented investments in the industry.

He pointed to the contracts worth $13 billion signed concurrent with the 73rd anniversary of the nationalization of the Iranian oil industry (March 19) and added the development projects of Azadegan and Azar joint oil fields as well as Soumar, Saman, Delavaran, and Masjed Soleyman fields will be implemented by Iranian experts.

The 13th administration has paid special attention to the improvement of macroeconomic indexes and has managed to achieve the predetermined objects in the areas of inflation reduction, monetary base, liquidity growth, and employment reduction by focusing on investment during the year of “Production Growth and Inflation Control”.

Given the 13th administration’s great efforts, the country’s economic growth topped six percent years after witnessing negative or low rates, said Mokhber, adding about 20 percent of domestic economic growth owes to the performance Oil Ministry, which has made huge investments after identifying the existing capacities.

News ID 639272


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