Iranian company to add 1.2 million barrels to processing capacity

Iran Materials 29 May 2012 16:00 (UTC +04:00)

Azerbaijan, Baku, May 29/Trend M. Moezzi

The National Iranian South Oil Company's (NISOC) petroleum refining capacity will reach 4 million barrels a day by 2015 with the completion of 15 desalinization projects.

When its desalinization projects are finished, they will add 1.2 million barrels a day to the NISCO's production capacity Managing Director, Hormoz Qalavand told Shana news agency.

Getting those projects underway is a priority for the NISCO's enhanced oil recovery.

The 4 million barrels a day target is set in Iran's Fifth Five-year Socio Economic Development Plan (2011-2015).

Iran's southern oil region produces between 107 to 108 million cubic meters of gas produced a day with up to 80 percent of that injected into oil fields, said Mr. Qalavand.

The NISCO produces more than 80 percent of Iran's oil and 16 percent of its gas.