BAKU, Azerbaijan, March 3
By Elnur Baghishov – Trend:
Iran's crude oil extraction will reach maximum in less than two months as soon as the talks between Iran and the 4 + 1 group on the Iranian nuclear program yield results, Iranian Oil Minister Javad Owji said, Trend reports citing Shana News Agency.
He made the remark during an event dedicated to the signing of contracts for the collection of flare gas from oil fields in east of the Karun River in Iran on March 3, 2022.
The minister noted that Iran is ready to increase crude oil extraction, and the Iranian Oil Ministry doesn't intend to wait for the results of these talks.
"The Iranian Ministry of Oil is using the potential and investment of local companies and banks,"Owji added.
According to him, one of Iran's goals in the oil and gas sector is to collect flare gas. Today, a big step is being taken in this direction. Currently, the biggest service to Iran's oil industry is to invest in such projects, because the cost of gas and related products is very high.
On March 3, 2022, Iran's Persian Gulf Bid-Boland Gas Refining Company has signed 8 contracts worth 470 million euro with 14 Iranian companies to collect flare gas from oil fields in the east part of the Karun River in south-western Iran.
Reportedly, talks are underway in Vienna, Austria, between Iran and the P4 + 1 countries (the UK, France, Russia, China and Germany) on Iran's nuclear program.
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