VOL. XXXII

NO. 51

25-SEPTEMBER-1989

IRAN

Iran Allocates $10bn to Oil and Gas Projects

The Iranian Oil Ministry has allocated $8.4bn to oil industry projects inthe current five-year plan, as well as $1.5bn to gas and $1.9bn topetrochemicals, according to the Iranian Oil Minister, Mr. Gholamreza Aghazadeh.Speaking on 14 September at a ceremony to mark the first exploration well in thesouthern Caspian, which is being drilled with Soviet technical assistance, Mr.Aghazadeh said that Iran's recoverable...