The Iran’s oil minister, Sanangne, who has approved the country’s parliamentary approval, has been continuously seeking to increase oil production after removal of restrictions.
Iran is to increase the world’s largest gas pipeline South Porsche contract with France’s Total Company. It is said to be about $ 5 billion in the next 40 months.
Iran needs about 200 billion dollars to increase oil and gas production.
It seeks to raise 65 to 75 percent of foreign investment. Iran is expected to attract $ 60 billion by the end of March 2018.
Iran is currently producing just over 30 percent of the 700 billion barrels of oil.