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Sovereign Wealth Funds Briefing - Categorized | Investment

Iran’s NDF allocates $1.5bln for development of Persian Gulf oilfields

Posted on 21 November 2012

Iran’s National Development Fund (NDF) has allocated $1.5 billion for developing the country’s oilfields in the Persian Gulf, Iranian Offshore Oil Company Managing Director Mahmoud Zirakchianzadeh said on Tuesday.
The money will be spent on developing a number of fields, such as the Esfandyar field, he added. According to an Iranian law, 37.5 percent of oil revenue is deposited into the NDF and is then channeled into the development of oil and gas fields and 62.5 percent of oil revenue is allocated for national budget expenditures……………………………………….Full Article: Source


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