Foreign companies allowed to operate Iranian oil and gas fields
Azerbaijan, Baku, Dec. 20 / Trend F.Milad/
There is no limit for foreign companies to conduct production and operation activities on Iranian oil and gas fields, a source in the national Iranian Oil Company said.
Mohammad-Ali Emadi told the ISNA news agency that the country will not boost crude output in the current year compared to the year before.
The Mehr news agency quotes Emadi as saying on Dec. 11 that the country's oil output would rise by one million barrels per day by 2015.
According to Iran's five-year development plan (2010-2015), the country's gas production capacity should increase by 250 million cubic meters per day, he stressed.
He also said that Iran's crude oil reserves will end by the next 50 years, adding that the oil deposits are recoverable by 29 percent on the average.
Iran's Oil Minister Rostam Qasemi said in August that the Iranian government should consider plans for the development of joint oilfields. The government should increase the budgets for joint oilfields development, Qasemi added.
"The oil industry's infrastructure needs more than 500 trillion rials (about 50 billion U.S. dollars) of investment to achieve Iran's 20-year economic perspective plan goals," Qasemi was quoted as saying.
Qasemi said that the private sector should form "huge oil consortiums" to finance energy projects in the country and exploit joint oil fields.