Zanganeh made the remarks on the sidelines of the 22nd Iran International Oil, Gas, Refining and Petrochemical Exhibition which opened in Tehran on Saturday.
He added Iran would ink $80 billion worth of oil contracts within the next two years of which $50 billion is spent on financing domestic businesses.
As per Iran’s Sixth Development Plan (beginning March 21, 2017), some $40 billion should be invested in the country’s petrochemical sector, said Zangeneh.
During the past three years, he added, the country has managed to double the capacity of natural gas production in South Pars joint field from 285mcm to 575 mcm.
Over 2,500 Iranian and 1,500 foreign companies from 37 countries are participating in the event.
The exhibition runs until May 9.