Iran Spends $300 Million On Equipment For Caspian

The Iranian Oil Minister Bijan Namdar Zangeneh has said that Iran has spent three hundred million dollars in order to buy oil prospecting equipment for the Caspian Sea.

“We have invested three hundred million dollars on infrastructure and equipment to prospect and exploit the oil in the Caspian Sea,” Zangeneh said. He made the statement after a cabinet meeting, and said that all the sites believed to house hydrocarbon have been specified in southern parts of the Caspian Sea and exploration operations have ended. He added that the operation would last for around two years.