Iranis looking to allocate a portion of National Development Fund (NDF) towards investment in upstream sector.According toShana News Agency, a parliamentary ad hoc committee studying Irans next year budget bill decided Sunday to allocate 18 percent of National Development Fund (NDF)s resources to investment in the upstream oil and gas industries.
The committee also stressed the need for working out strategies to reduce crude oil selling and raising export of oil products instead,Shanasaid.
Potential investors providing 50 percent of their planned investment will be compensated by NDF for the rest, the news agency added.
NDF is set to generate revenues from oil, gas and condensate exports while providing investment for oil and gas projects so that Iran will maintain its future hydrocarbon share,Shanaadded.
By Natural Gas Asia
The Iran Project is not responsible for the content of quoted articles.
