BAKU, Azerbaijan, April 9. The crude oil extraction of the National Iranian South Oil Company (NISOC) has increased by 600,000 barrels daily since the beginning of the current Iranian government came to power (August 2021), the CEO of NISOC Alireza Daneshi told IRNA, Trend reports.
According to Daneshi, a number of changes in the company's production program have resulted in an increase in production.
The CEO also added that the repair of pipelines and equipment at the company has allowed increased production.
“Within the company's next 5-year program, production targets will be further clarified and production potential will increase,” he said.
The National Iranian South Oil Company, a subordinate of the National Iranian Oil Company, operates 45 large and small hydrocarbon deposits in an area of 400,000 square kilometers from Iran's Bushehr Province to the north of Khuzestan Province.
The company extracts about 80 percent of Iran's crude oil and 16 percent of gas. The company reportedly extracts about 3 million barrels of oil per day.
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