Iran expects buyback projects to generate more than $ 17 bn annually

Jul 06, 2004 02:00 AM

Iran will earn more than $ 17.4 bn per annum once the 17 ongoing buyback projects become fully operational.
According to ISNA, the completion of the buyback projects will help boost national oil production by 630,000 bpd.

The daily production of natural gas and gas liquids will also increase by 300 mm cm and 475,000 barrels accordingly.
Some 80 % of the buyback projects relate to the development of major oil and gas fields, such as South Pars, Salman, Farzam, Forouzan and Esfandyar.

A total of $ 15 bn in foreign direct investments have been made in buyback projects. The country will have to repay $ 26.5 bn.
Buyback projects are expected to generate revenues of some $ 400 bn over a 30-year period.

Source: Tehran Times
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