Iran to Boost Oil Production by 135,000 bpd Following New NIOC Contracts

Speaking on the occasion of finalizing contracts for the purchase of crude oil processing services at several oilfields, NIOC Chief Executive Hamid Bovard announced that the agreements will directly contribute to a significant increase in the country’s daily oil output. He also highlighted the conclusion of a separate contract for the supply of offshore drilling rigs as a key milestone in this effort.

Bovard expressed appreciation for the continuous, round-the-clock efforts of NIOC staff and personnel, noting that their commitment played a crucial role in bringing the contracts to completion.

Referring to the agreement signed with a qualified private-sector company, the NIOC CEO explained that the contract will lead to the addition of 20 drilling rigs to Iran’s offshore drilling fleet. He said the move is designed to accelerate drilling activities and support higher levels of crude oil production.

Emphasizing the growing role of the private sector, Bovard said NIOC has taken major steps in cooperation with private companies as part of a broader strategy to enhance production capacity and strengthen Iran’s oil industry.