Head of the Plan and Budget Organization Mohammad-Baqer Nobakht says the revenues gained out of oil sale will be spent on development projects.

Deputy Director of the Exploration Department at National Iranian Oil Company (NIOC), Bahman Soleimani, says early studies on exploration in Oman Sea have yielded good results.

Iran awarded a basic agreement to global energy giant Royal Dutch Shell to study three mega oil and gas projects – an agreement that was hailed in Tehran for its technical and economic benefits for Iran.

Thai oil and gas company PTT Exploration and Production Public Company Limited (PTTEP) is to study three oil fields in Iran.

China National Petroleum Corporation is interested to take more projects in Iran and to promote cooperation with National Iranian Oil Company in the future, CNPC senior official said.

Indonesian companies are interested to join upstream projects in Irans oil industry in fields like Ab Teymour and Mansouri oilfields, said Chairman of the Peoples Consultative Assembly (MPR) of Indonesia Zulkifli Hasan.

Iran has envisaged to earn over 1.1 quadrillion rials from selling 2.42 million barrels per day of crude oil at $50 each, the national budget bill for the next calendar year indicated.

Brazil is interested in investment in Irans downstream oil sector and cooperation in deep waters.

President Hassan Rouhani said on Sunday that about 150 million cubic meters/day or about 25 percent have been added to the countrys gas production capacity.

Brazilian Minister of Energy and Mines Fernando Coelho Filho says his country wants to benefit from Irans experience in oil exploration and refining projects.