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Budget Has Allocated $4.8b to Shared Fields

Source: www.gulfoilandgas.com 5/16/2015, Location: Asia

A member of energy committee of Parliament says annual budget has envisaged tapping foreign exchange from the National Development Fund for development of shared oil and gas fields.

Speaking to Shana, Nader Fereidouni the chairman of oil, gas and petrochemicals committee of the Iranian parliament said budget law allows withdrawal of as much as 4.8 billion dollars from the National Development Fund for developing shared oil and gas fields.

He continued: “Despite this, it’s probable to get more money depending on putting forward new suggestions for using NDF’s resources and then examination and approval.”

He further noted that gas production rose by 100 mcm/d last year, projecting total gas output to rise by similar amount this year, which could pave the way for boosting exports.

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