NIOC: Operationalization of 7 New Oil, Gas Projects to Generate $6b Wealth for Iran
10:00 - February 13, 2024

NIOC: Operationalization of 7 New Oil, Gas Projects to Generate $6b Wealth for Iran

TEHRAN (ANA)- The CEO of National Iranian Oil Company (NIOC) has said when seven new oil and gas projects become operational, they will create some $6 billion income for the country.
News ID : 5105

Head of National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr made the remarks in a ceremony attended by oil minister Javad Owji to a inaugurate the projects during his visit to the Southwestern oil-rich province of Khuzestan.

The NIOC chairman also said that the seven projects are a part of the oil ministry’s plan for a leap in production.

According to Khojasteh-Mehr, the launch of the seven projects will add 150,000 barrels of crude oil and 28 million cubic meters (mcm) of natural gas to Iran’s total daily production.

He went on to say that renovation of Qale Naar pipeline, Shadegan pipeline, Ahvaz desalination unit, increase in Cheshmeh Khosh, Dalpari, and East Paydar fields’ production, start of Sohrab joint oil field, drilling 60 wells in the South Azadegan field, and launch of the new offshore pipeline of Phase 16 of the South Pars gas field were the projects that were going be to inaugurated by the oil minister.

He further stated that, “In total, about $800 million will be invested in the Sohrab joint field, which will increase its production to 30,000 barrels.”

The CEO of the NIOC concluded that after the operationalization of seven oil and gas projects which coincides with the anniversary of Islamic Revolution, around $6 billion of revenues will be generated in the country.


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