TEHRAN, Iran, May 13. Iran is starting 26 mega oil projects with a $30 billion investment by the end of the current Iranian year (started March 21, 2022), said the Minister of Petroleum Javad Owji, Trend reports citing IRNA.
"The following projects will increase production, ensure energy security, create jobs, and increase added value to the supply chain," he said at the 26th International Oil, Gas, Refining and Petrochemical Exhibition of Iran.
He pointed out that the Iranian government has invested $13 billion on another 48 projects in the oil industry that will be complete in the current Iranian year.
According to the official, the ministry has signed 50 contracts valued at $16.7 billion with banks, holdings, and international companies to develop joint fields, collect flare gas and add value to the supply chain.
