Iran has announced an investment of seven billion dollars in the development of the Azadegan oil field jointly with Iraq. This was announced by Iranian Oil Minister Javad Owji.
"We [the Iranian government] are ready to invest $7 billion in the project to further develop the joint field with Iraq in Azedagan with funds exclusively from national banks and development fund," said the minister, quoted by Iraqi news portal Baghdad Al Youm on Tuesday. If the program is completed, Owji added, "the daily production of oil at Azedagan will increase to 570,000 barrels".
The Iranian oil minister also noted that Tehran "does not face any problems in selling Iranian oil products and petrochemicals". According to him, Western countries, which tried to prevent the export of these products from Iran, failed, and the global demand for petroleum products made it even more difficult for them to fulfill this task.
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Based on materials from TASS