Private sector's role in Iran's oil & gas extraction industry increases
Baku, Azerbaijan, Feb. 24
The role of the private sector in Iran's oil and gas extraction industry has increased, Executive Director of Iranian Central Oil Fields Company Ramen Hatemi said, Trend reports via SHANA.
Hatemi noted that once the extraction sector was in full control of the state.
However, presently, the share of National Iranian Drilling Company does not exceed 60 percent in this sector, he added.
Hatami expressed hope that the private sector would further enhance its role in the Iranian extraction industry.
"Considering that the Sixth Development Plan of Iran envisages growth in oil and gas output and the fact that most of the oil fields are in the second half of their lifetime, there will be need for drilling new wells and increased repair in the upcoming years," he said.