Iran's oil production to increase by about 280,000 barrels
Baku, Azerbaijan, Aug. 20
By Elnur Baghishov – Trend:
With the implementation of new oil projects, about 280,000 barrels of oil per day will be added to Iran's oil production, said Head of Manufacturing Support and Procurement Directorate of the National Iranian Oil Company (NIOC) Ramin Ghalambor Dezfuli, Trend reports referring to the website of Tehran Chamber of Commerce, Industries, Mines and Agriculture (tccim.ir).
According to him, 33 work packages are intended to be developed for the purposes of increasing the production of Iran’s oilfields and maintaining those volumes of oil production.
Ghalambor Dezfuli added that agreements have so far been signed on 10 projects with the private sector and the signing on 10 more is on the agenda.
"As per the decision of the Supreme Council of Economic Coordination [of the Iranian government], the cost of these projects is estimated at $6.2 billion and all projects will be awarded to local contractors," he said.
According to Ghalambor Dezfuli, the budget for these projects will be provided through the sale of securities, which was initiated last year. He also said that at least 70 percent of the equipment in these projects will be supplied via domestically produced equipment.