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First Vice President Eshaq Jahangiri said that Iran needs hundreds of billions of dollars in investment to develop its offshore oil and gas reservoirs which include joint fields with neighboring countries.
“In the Persian Gulf, which if rich with oil and gas resources, lies the important South Pars reservoir shared between Iran and Qatar which is world’s largest gas field and raised Iran to the world’s top place,†he said, addressing a national conference on maritime strategic importance.
“One of our duties is to exploit these reservoirs for the welfare and development of the country. We need investment of tens and perhaps hundreds of billions of dollars to utilize these oil and gas fields,†he added.
“None of the countries which hold oil and gas resources in this range and need investment possess Iran’s potential, rank, and capacity in the industrial sector. They can rely on Iran for development of their reservoirs,†said Jahangiri.
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