Iran to Sign $15 billion Oil, Gas Deals by March Next Year

The Iranian Offshore Oil Company sees Iran signing $15 billion worth of oil and gas deals by the end of March next year.

The country has signed a contract worth $1.1 billion for developing the Lavan gas field and another deal valued at $3 billion will be inked for developing the Forouz B gas field.

Negotiations are also underway to conclude separate contracts for developing Farzad A, Forouzan, Soroush and Esfandyar fields.

Iran’s oil minister Rostam Qasemi earlier said that oil industry's infrastructure needs more than 500 trillion rials (about 50 billion U.S. dollars) of investment to achieve Iran's 20-year economic perspective plan goals.