Iran Daily, June 23: “We Need $50 Billion in Oil Investment”


A leading Iranian MP has indicated the scale of investment needed in Iran’s oil industry — and thus the need for a nuclear agreement and the removal of US-led sanctions — to maintain and expand output and exports.

“The petroleum industry needs $50 billion in investment annually for development and preservation of the current situation,” Amir-Abbas Soltani, the secretary of Parliament’s Energy Committee, said.

He expressed optimism about attraction of investment into the petroleum industry. Saying that the bulk should go to the South Pars gas field in southern Iran, he said companies from South Korea, Japan, US, and Europe had been invited to participate.

Oil Minister Bijan Namdar Zanganeh has been pursuing discussions for months with foreign companies, seeking investment as soon as sanctions are lifted. He said this week that he was in talks with more than 30 firms.

Almost all foreign involvement in Iran’s oil and gas fields was terminated in 2010, with the tightening of sanctions. Even Russian firms have withdraw, and multi-billion-dollar contracts with Chinese companies were terminated when they did not deliver on the terms.

Iran and the 5+1 Powers (US, Britain, France, Germany, China, and Russia) are in negotiations in Vienna seeking a comprehensive nuclear deal by June 30. On Monday, Iranian Foreign Minister Mohammad Javad Zarif met British, French, and German counterparts, as well as the EU’s head of foreign policy Federica de Mogherini, in Luxembourg.

See Iran Daily, June 22: Rouhani — Nuclear Talks Are at “Sensitive Stage”

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  1. The tyrant and murderous khamenei busy at work…

    The new law prevents people who are being interrogated for pretend security charges from having their own lawyers, instead they will have approved lawyers.

    Someone in Australia has a good opportunity to export a lot of kangaroos to the islamic republic, just put an abaa(robe) and a turban on them. There, you have a complete justice system for poor iranian people.

    in farsi

  2. Hear it from horse’s mouth or ass, you be the judge.

    khamenei in a meeting with the rest of thieves and murderers clears his position on nuclear deal.

    Where is reza esfandiari, aka razmgoo/manoucher/etc??

    آقای خامنه‌ای تاکيد کرد: «تحريم‌های اقتصادی، مالی و بانکی چه مربوط به شورای امنيت، چه کنگره آمريکا و چه دولت امريکا بايد فوراً هنگام امضای موافقتنامه لغو و بقيه تحريم‌ها هم در فواصل معقول برداشته شود».

    “khamenei: ALL sanctions must be lifted at the time of signing the agreement, and the rest, in a timely manner”

    (not sure what “the rest” is)

    آيت‌الله علی خامنه‌ای، روز سه‌شنبه دوم تیر در جمع مديران ارشد نظام جمهوری اسلامی گفت: «لغو تحريم‌ها نبايد به اجرای تعهدات ايران منوط شود، نگويند شما تعهدات را انجام دهيد بعد آژانس گواهی دهد تا تحريم‌ها لغو شود ما اين مسئله را مطلقاً قبول نداريم».

    “khamenei: lifting of sanctions should not be tied to our commitment(!!!). Don’t tell us “you implement your part and wait for IAEA confirmation, and then lift the sanctions”

    Someday, someone is gonna make a bad tv series calling “days of our lives with khamenei”

    in farsi

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