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Iran’s Oil Ministry has released a list of 49 upstream projects it has identified for priority investment by international and domestic companies alike, as part of its latest push to attract new cash, technology and expertise back to its oil and gas sector following almost 10 years in the dark.
Hit by wave after wave of US, EU and UN sanctions, Iran has struggled to gain access to the foreign investment, equipment and technology it so badly required to continue developing its vast oil and gas resources – ranked fourth and second largest respectively – forcing numerous projects to be delayed, or in some cases even shelved indefinitely. (CONTINUED - 769 WORDS)
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