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Iran seeks massive investment to boost oil, gas projects

Xinhua, November 7, 2016 Adjust font size:

Iran on Monday called on the Iranian and foreign investors to engage in more than 40 projects for the development of Iran's oil and gas fields, semi-official Fars news agency reported.

The National Iranian Oil Company (NIOC) made the call at the opening ceremony of the 8th Khouzestan Oil Industry Equipment Fair in southwestern the country.

In a message at the event, NIOC's Managing Director Ali Kardor said that 40 investment projects had been specified for investments from inside and outside Iran.

On Monday, media reported that the NIOC and a consortium involving France's Total, the China National Petroleum Corporation (CNPC) and Iran's Petropars will sign a deal in the Tehran on Tuesday to develop the phase 11 of the South Pars Gas field in the Persian Gulf region. Endit