A credit of 1,350 billion rials has been allocated to Karoun Oil and Gas Company for the expansion and development of oil and gas fields.

Managing director of Karoun Oil and Gas Company said that the credit is 20 percent more than the amount provided last year. He added that the credit has been allocated for implementing 59 development projects by Karoun Company.

Abdolmehdi Mojtahedi said that some of these projects include expansion of oil and gas fields, improvement of desalination units, and development projects which include construction of roads and power transmission lines.