Iran allocated about $ 7 billion for exploration and production in the oil and gas sector

Tehran. July 10. Silkroadnews - National Development Fund of the Islamic Republic of Iran (IRI) allocated $7 billion for projects in the field of exploration and production of oil and gas sector in the country, reports the Iranian News Agency (IrTAG).
These figures were announced by CEO of the National Development Fund of IRI Seyed Safdar Husseini on Wednesday.
He also noted that about $2 billion of additional funds were directed to construction of new refineries and petrochemical complex in Iran.
According to S. Husseini, at the end of May, current year, its fund assets reached over $40 billion
According to the state development program for the next five years, the government of Iran has pledged to allocate to National Development Fund more than 30% of the total annual profits from the sale of the country's oil and gas.