Iran's energy projects are likely to attract foreign investments worth $50 billion-$80 billion in the near future, a report said.
Hossein Zamani-Nia, Deputy Oil Minister added $10 billion in foreign investment will pertain to the petrochemical sector, according to an Iran Daily report, which cited Trend News Agency.
He further said that foreign investments to the tune of $185 billion will be required in Iran's energy sector in the course of time.
He added that foreign investments worth $85 billion are planned in the upstream oil sector by 2021.
Meanwhile, Homayoun Falakshahi, senior Iran analyst at Wood Mackenzie told Trend News Agency: "We estimate that National Iranian Oil Company (NIOC) would need $115 billion over 20 years to develop the 50 oil and gas fields it has shortlisted for investment under the IPC."
"Despite much interest from international oil companies, it is unlikely that all of these projects will be awarded, so the actual level of investment will be a lot less. Because of ongoing US sanctions, international banks continue to be extremely cautious. This will make it difficult for Iran to attract the required capital, at least for now,” he added
Trade Arabia
May 02
