Middle East Economic Survey

VOL. XLVII

No 50

13-December-2004

IRAN

NIOC Officials Estimate Irans Petroleum Industry Spending At $10Bn Over Next 10 Years

Irans plans to expand the production capacity of its oil, gas and petrochemicals industries over the next 10 years require a total investment of $70bn, according to officials of the National Iranian Oil Company (NIOC). The IRNA news agency quoted NIOC Managing Director Mehdi Mirmoezzi on 7 December as saying that a major portion of this investment...