Official hails hike in investment budget in South Pars gas field

Tehran, April 24, IRNA – Managing Director of Pars Special Economic Energy Zone Moussa Souri said on Saturday that allocation of 40 percent of the Oil Ministry budget to investment in the South Pars gas field is an unprecedented event.

Talking to IRNA, he appreciated efforts made by Majlis representatives to allocate such a budgent to the South Pars gas field in the current Iranian calendar year.

He made the remark on the sidelines of the 15th International Oil, Gas, Refining and Petrochemical Exhibition which opened here at the Tehran International Fair Grounds on Thursday.

Emphasizing the importance of the ongoing exhibition, he said the number of foreign and domestic companies participating in the show has witnessed a significant increase compared to the previous years.

Some 400 foreign and over 900 domestic companies are taking part in the five-day event.

He further condemned the hue and cry made by certain foreign countries, and said a large number of foreign companies have announced their interests to participate in development projects of Iran’s oil, gas and petrochemical industries during the ongoing exhibition.

Souri added that special facilities have been prepared for the investors and producers in his zone, thanks to the ratification made by the cabinet ministers last month.

Referring to the recent sanctions imposed on Iran, the official reiterated that such challenges have resulted in significant development and creative works in the country’s oil and gas industries.

Some 435 well-reputed foreign and 907 Iranian companies and enterprises active in oil, gas, and petrochemicals industries have showcased their businesses in 27 halls on 73,000 square meters of lands in the exhibition which was opened on the 101st anniversary of oil exploration in Iran./end