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  • 03-08-22

    Oji: Oil Ministry follows serious strategies to support development ventures

    (MENAFN) On Monday, Iranian Oil Minister Javad Oji stated that his ministry is completely following the strategies for funding the oil industry’s development ventures, as reported by Shana.

    Stating on national TV, Oji pointed out that latest readings present that more than USD160 billion of funding is needed to finish the nation’s oil industry development ventures through the upcoming eight years.

    He stated that “Planning has been done to provide this figure, and considering the current progress [in our plans] there will be no problem in this regard.”

    The official mentioned that the present government has so far collected at least USD80 billion for the nation’s oil and gas ventures as well as a deal valued at USD40 billion has also been inked with Russia’s Gazprom.

    Oji also noted that “We have also signed 28 contracts with a total value of over one billion dollars for collecting flare gas, most of which have been signed with private companies that will use the collected gas as payment.”

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