Iran will spend up to $4.8 billion from its sovereign wealth fund to develop its oil and gas fields
A proposal approved by Iran’s parliament Tuesday will allow the country to draw on its sovereign wealth fund in order to develop its oil and gas industry. The proposal will allow Iran to draw up to $4.8 billion from the fund to help cope with falling oil prices as the country tries to attract new business.

The sovereign wealth funds will supplement other budgetary allocations for the sector as Iran looks to modernize its oil fields and aging ...

UPDATE: Expert Opinion

When asked by Oil & Gas 360 for her opinion on news that Iran planned to pull $4.8 billion from its sovereign wealth fund in order to develop its oil and gas fields, Dr. Sara Vakhshouri, President of SVB Energy International, said that the main reason the Iranian government made this decision was in order to finish developments that were already under construction.

“This money is particularly important for the remaining phases of the South Pars expansion,” said Dr. Vakhshouri. The expansions in the South Pars field are targeted at increasing the country’s condensate production. Export of condensate is not included in the sanctions against Iran, meaning that the country can export the additional production, or use it domestically.  


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