The US Department of Energy provided the NPHR model to the IAEA in 2011.

Iraq may change the benchmark but keep timing for lifting oil at a one-month gap.

As a consideration. Statoil will fund 100% of the cost of certain future activities in the block.

The cost of reconstruction has been estimated at between $700 billion and $1 trillion (590 billion to 840 billion euros).

It is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.

A recent report shows that the volume of foreign investment in Iran has increased by over 64 percent.

Around 1.2 billion people. or almost one-fifth of the world'.s population. live in areas of physical scarcity. and 500 million people are approaching this situation. it said.

A follow-up meeting will be held to explore cooperation in several different sectors. They include. industry. logistics. housing and financial services.

Iran'.s petrochemical plants produced 18 million tons of products in the first 4 months of the current Iranian calendar year.

Iraq is the closest market to Khuzestan and the Iranian province has so far played a major role in exporting of gas to Iraq.