Transformation in oil industry financing with new tools and guarantee funds

According to Energy Press, one year has passed since the Ministry of Oil of the 14th government took office. During this period, the most important priority of the Ministry of Oil has been to increase oil and gas production and exports. Although relying on local power and knowledge is a key to increasing production, this goal cannot be achieved without targeted investment.
The importance of attracting capital in increasing production and economic development is so great that even this year has been named the Year of Investment in Production by the Supreme Leader of the Revolution. Considering this necessity and importance, the oil industry also held a conference on the transformation of upstream investment in the oil industry in Ordibehesht 1404.
The ministry has also taken effective measures to achieve the goals of the Seventh National Development Plan by focusing on attracting investment and financing oil and gas industry projects. These programs are designed to develop oil and gas fields, improve the quality of refined products, and increase production capacity, and use various financing methods.
Key initiatives of the Ministry of Oil in financing
The Ministry of Oil, taking advantage of the legal capacities of the Seventh Development Plan, has adopted innovative solutions to finance oil industry projects. In this regard, Article 15, paragraph (b) of the Seventh Development Plan Law has been used to attract investment from energy-intensive and petrochemical industries in the development of independent gas fields. The Oil Industry Guarantee Fund has also been established in cooperation with the Central Bank, the National Development Fund, the Stock Exchange Organization, and the banking network to facilitate the financing of projects through the money and capital markets by issuing the necessary guarantees.
In addition, the resources of the Oil and Gas Investment Account, based on Article 14, paragraph (b) of the Seventh Development Plan Law, have been used as a lever to support oil plans and projects. On the other hand, the issuance of crude oil commodity deposit certificates will be used as a tool to pay the claims of the non-governmental sector and finance upstream oil and gas projects.
Significant achievements in the field of investment
In the first year of the 14th government, the Ministry of Petroleum has taken great strides in the field of investment by taking advantage of domestic and foreign opportunities. These efforts have been made with the aim of developing the infrastructure of the oil and gas industry and increasing production capacity, and have yielded significant results.