The Acting Head of Engineering and Development at the National Iranian Oil Company Reza Aqebati announced that they will allocate $41 billion of investment packages to develop 50 natural gas fields, among them 35 projects aimed to increase gas production capacity by 500 million cubic meters per day (mmcm/d).

Aqebati said that in a specialized meeting on investment opportunities in gas field development during the “Transformation in Investment and Development in Iran’s Upstream Oil and Gas” event.

He added that there are 35 onshore fields that need to be developed with costs exceeding $13 billion and 14 offshore fields in need of $27 billion.

Aqebati explained that the packages are divided into two main categories; the first one is for the fields in the oil-rich southern regions, which are mostly high-pressure with high production volumes. The second is for the onshore fields managed by the Central Iran Oil Company, which are open to a wide range of investors, from small to large.