Iran mulls $200b investment in oil Sector


TEHRAN, April 25 (Shana) –- First Vice-President Eshaq Jahangiri said the Rouhani Administration is planning to invest 200 billion dollars in oil sector in a push to develop the industry by employing new technologies.

Addressing the opening ceremony of a laboratory equipment exhibition in Tehran, Jahangiri said the administration has been seeking the country’s industrial progress in sectors like steel and oil and gas recovery.

“We need to restore our status in technological development by focusing more attention on the elites and scientists so that they can play their role better in the country’s progress,” said the official.

He said the Rouhani Administration has planned to invest 200 billion collars in the country’s oil sector in a bid to develop the sector technologically.