TEHRAN (Iran News) – Head of the National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr says with reimposition of sanctions and halt in the JCPOA during the previous government and lack of timely repair of oil installations, the oil production capacity of the country declined by over one million barrels but in the beginning of the 13th government and only with $500m, they could restore and revive the lost capacity in just 6 months.
Speaking in a ceremony on Tuesday, Khojaseh-Mehr emphasized that the time and increase of productivity in drilling is very important in the economy of this project, adding that currently in the issue of drilling, they face with 14 challenges in the field of increasing the duration of drilling.
He added that at the beginning of the current government it was decided all plans and decisians are implemented in the shortest time, adding that some achievements of today like doubling the oil export is because of those decisions at the beginning of the job.
He reiterated that 20 months ago Iran’s oil exports had fallen to less than 300,000 barrels per day and some 80m barrels of gas condensates were waiting on the water in the Persian Gulf and it was getting to be oil industry’s Achilles’ Heel. He noted that the solution of the previous government was to increase rented oil tankers with annual cost of $450m and for three years all oil gas condensates products had been restoring on the bunkers on the water.
Khojasteh-Mehr went on to say that the ministry doubled the oil exports in the toughest condition and under sanctions and the government could compensate its budget deficit by selling oil and getting back the oil money.
He termed revival of energy diplomacy was the secret of NIOC in the field of oil export last year comparing to the preceding year which saw 79% growth and it shows the power and authority of the oil industry.
He said that at the beginning of the current year the oil production capacity of the country was 2.2m barrels but now it has reached 3.1m barrels per day, adding that 86% of the joint oil fields of Iran are in the working range of Arvandan Oil and Gas Company and today the oil product from those fields is ratio of one to three.
Khojasteh-Mehr further said that in recent months they have witnessed signing of many domestic and international MoUs and contracts in the oil industry, adding that soon the development project of South Pars Phase 11 will soon start, admitting that this issue has been delayed for 20 years .
He stated that the exploitable oil reserves of Iran is around 160b barrels, adding that for increasing oil and gas production, the country should have a compiled and systematic plan.
