Iran’s energy sector will require an investment of $150 billion over the next five years, according to Petroleum Ministry Director General of Strategic Planning, Saied Qavampur.

Sputnik quotes him as saying:

“In the meantime, the private sector and foreign investors are due to fund 100 billion dollars of the projects. The rest will be financed by local sources which will mainly be directed to upstream oil and gas projects.”

Iran is set to raise gas exports to 200 million cubic meters per day, supplying the fuel to Iraq, Pakistan and other neighboring countries, he added.