Iran Extends Offshore Drilling Contract with Turkmenistan for 10 More Years Official: Marine-1 Drilling Rig to Start Operations in Phase 20 of South Pars Soon Official: Iran to Invest $16bln in South Pars by Yearend Official: Egypt, Turkey Agree with Iran to Set Up Joint Petrochemical Forum Iran to Rise Swap Capacity of Oil Products by 30 Percent

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Iran Extends Offshore Drilling Contract with Turkmenistan for 10 More Years Managing-Director of the North Drilling Company (NDC) Hedayatollah Khademi announced that his company has extended its drilling contract with Turkmenistan for another 10 years. Iran to Rise Swap Capacity of Oil Products by 30 Percent Head of the National Iranian Oil Products Distribution Company (NIOPDC) Mostafa Kashkouli said that the country plans to considerably increase the swap capacity of its oil products with other countries in the current Iranian year (started March 21). Official: Marine-1 Drilling Rig to Start Operations in Phase 20 of South Pars Soon Marine-1 drilling rig is set to start drilling 12 wells in phase 20 of the South Pars gas field after completing its operations in the oil layer of the field, Managing-Director of the International Drilling Company Pourya Pornouri said. Official: Iran to Invest $16bln in South Pars by Yearend Managing-Director of the Pars Oil and Gas Company (POGC) Mohammad Reza Zahiri said that Iran plans to make massive investments to develop the South Pars gas field in the current Iranian year (started March 21). South Pars gas field to attract $16b in fiscal year Some $16 billion will be invested in Iran’s South Pars gas field in the current Iranian calendar year, Pars Oil and Gas Company Managing Director Mohammad-Reza Zohairi said. Official: Egypt, Turkey Agree with Iran to Set Up Joint Petrochemical Forum Egypt and Turkey have welcomed Iran's proposal for the establishment of a joint petrochemical forum by the eight Muslim developing countries (D8), a senior Iranian official said. Iran's Petrochemical Exports Exceed 16mln Tons in One Year Iranian petrochemical plants increased the exports volume of their petrochemical products in the last Iranian year (ended March 20), a senior trade official announced. Iran Proposes D8 States to Set up Joint Petrochemical Forum Iranian Deputy Oil Minister and Managing-Director of the National Petrochemical Company (NPC) Abdolhossein Bayat announced that Tehran has proposed the eight Muslim developing countries (D8) to set up their first joint petrochemical forum. Iran Manufacturing 99% of Electricity Equipment Domestically Managing-Director of Iran's state-run Power Supply and Distribution Company (TAVANIR) Homayoun Ha'eri announced that the country is manufacturing almost all its needs to electricity equipments and facilities. Deputy Minister: Iran Leading Global Dam Construction Industry Iranian Deputy Energy Minister Alireza Daemi praised Iran's eye-catching progress in the dam construction industry in recent decades, and said the country is now among the world's top dam-builders and enjoys the most advanced technology in the field. Minister: Iran Ready to Build Power Plants in Guinea-Bissau Iranian Energy Minister Majid Namjou announced Tehran's readiness to build power plants in Guinea-Bissau and provide the West African country with other electrical equipment. Iraqi merchants buying Iranian wheat at a higher price A number of Iranian MPs criticized the government for buying wheat from farmers at a low price, saying it has encouraged Iraqi merchants to buy wheat from Iranian farmers at a higher price. Official: Iran Exporting Medical Products to 40 World Countries Iran is capable of supplying a major part of its domestic needs to medical equipments and is now among the world exporters of medical products, an Iranian health official said on Saturday. Islamic Development Bank Meeting Kicks Off in Tajikistan The 38th Meeting of the Islamic Development Bank (IDB) opened in Dushanbe, Tajikistan, on Saturday.

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