Majlis OKs NIDF finance of joint fields

A view of Iran's Majlis

A view of Iran’s Majlis

TEHRAN Feb 24(Shana)–Iranian lawmakers have voted in favor of a piece of legislation for tapping the National Development Fund of Iran (NDFI) for the development of oil and gas fields Iran shares with neighboring countries.

The legislators gave green light for the allocation of $4.8 billion from NDFI to develop joint hydrocarbon fields.

Petroleum Minister Bijan Namdar Zangeneh recently warned that financial shortages for oil and gas projects would destroy the NDFI.