BAKU, Azerbaijan, June 2. A total of $13.5 billion is needed to significantly increase gas production within the framework of 25 packages in the area of Iran's Central Oil Fields Company (ICOFC), director of investment and development at ICOFC, Shirin Mohajer, told reporters, Trend reports.
She said that about $7 billion worth of funds have been received from the Iranian Planning and Budget Organization within the framework of the investment packages, and work is ongoing to secure the remaining funds.
Mohajer added that if the work within all packages is completed, the company's gas production will increase by 100-140 million cubic meters per day.
"Despite the imposition of sanctions against the country, there are more interesting projects for local and foreign investors, and the ICOFC is ready to create opportunities for investors to carry out work within these projects," she noted.
ICOFC has 84 oil and gas fields in 11 provinces of Iran. So far, 13 gas fields and 13 oil fields have been developed. The company's maximum production potential is approximately 250,000 barrels of crude oil and 250 million cubic meters of gas per day.
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