Iran plans to launch international tenders soon for eight new oil and gas exploration blocks, the head of the exploration arm of the National Iranian Oil Company, M. Mohhad, told reporters here today.

     Mahmoud spoke at a time when Iran is facing pressure from Western powers over its controversial nuclear program.

     Iran, the world's fifth-largest crude oil exporter, needs foreign capital and technology to develop its vital energy industry. But the dispute over Tehran's nuclear program has deterred Western investors from investing in the sector.

     "We plan to launch an international tender soon for eight new oil and gas exploration blocks," Reuters quoted him as telling reporters from Iran's semi-official Mahel news agency. We are currently preparing the documents required for the tender of these blocks."

However, he did not provide details of the tender.

     Mohad also said the National Iranian Oil Company plans to find new reserves of 500 million barrels of oil and 5 trillion cubic feet of natural gas during the fifth five-year development plan period (2010-2015).