Addressing at the first oil industry’s legal conference, the minister of petroleum said that at the end to the fifth five year development plan (2010 – 2015), Iran’s gas output would rise to 1.1 billion cubic meters per day.
Stressing on the investment in oil industry, the minister of petroleum said that the legal department should prepare the ground to attract the financial and other resources for projects and reduce the risk for investors.
noting that oil industry resources alone can not meet developmental needs, Mirkazemi stressed on absorbing financial resources from outside the oil industry, whether domestically or from abroad.
He went on to say that legal department can provide necessary ground for participation of the Iranian companies in the oil industry projects.
According to Mirkazemi by organizing small and large resources of the local companies willing to invest in oil industry projects, it is possible to meet the $ 200 billion needed for investment in the upstream and downstream sectors over the fifth five year plan.
Noting that Iranian companies have implemented different projects in oil industry over the last three decades and have benefited from their investments, the minister of petroleum pointed out that the companies have huge financial resources to invest in oil industry activities.
The first conference of the legal department of the oil industry was held on Tuesday on the presence of the deputy president for legal affairs, a number of petroleum ministry directors and legal department officials.