(MENAFN) The National Iranian Oil Company (NIOC) will develop Karoun oilfields as it has already allocated USD4.4 billion for the projects, according to Iran Daily
The projects aim to increase crude oil production capacity to reach more than 1 billion barrels per day
Foreign and domestic investors are expected to fund the USD20 billion worth projects
The NIOC is an oil and natural gas producer and distributor headquartered in Tehran
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