Middle East Economic Survey

VOL. L

No 51

17-December-2007

IRAN

Iran Needs $160Bn Investment In Oil And Gas Capacity Over Next Seven Years

Irans Minister of Petroleum Gholamhossein Nozari said on 6 December that the government should allocate $160bn to increase oil production capacity to 5.3mn b/d and gas production capacity to more than 1bn cmd (35bn cfd) over the next seven years. He added that Iran was producing 4.15mn b/d of oil and had capacity to deliver 4.30mn b/d. The National Iranian Gas...