The American Century Corp., which is based in New York City and owns about 70 companies including American Express, said Monday it plans to invest $2 billion to help develop and expand Middle East oil and gas fields, which would include the construction of a $1.2 billion pipeline connecting Iran to the Gulf.
The American, which has been a supporter of the Iran nuclear deal, said the project would help the region with energy security and the “opportunity to diversify.”
“The U.S. is the largest oil exporter in the region and our investment will create jobs and prosperity for all,” the company said in a statement.
The company, which operates about 100 pipelines, said it plans “to establish a network of partnerships to help build the oil and natural gas infrastructure that will support energy security in the Arab and Muslim world.”
In January, the company announced it would spend $2.4 billion to invest in Saudi Arabia’s energy sector, which it described as “the largest private sector oil field in the world.”