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Iran Min: To Spend $4 Billion In 2 Venezuela Oil Fields

(Dow Jones)- Iran’s state-owned Petropars oil and gas company is investing around $4 billion in the explorations and developments of two oil fields in Venezuela, Iran’s Oil Minister Kazem Vaziri Hamaneh said Sunday.

“The level of investment in the two Venezuelan oil fields is estimated at $4 billion, which will amount to Petropars’ largest investment outside the country, ” Vaziri said in press briefing after negotiations with his Venezuelan counterpart, Rafael Ramirez, who arrived Saturday in Tehran.

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