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  • 18-01-21

    Iran to increase its oil production back to pre-sanction levels

    (MENAFN)According to IRNA, Managing director of National Iranian South Oil Company (NISOC) stated that Iran is prepared to improve its oil production back to the pre-sanction levels.

    Ahmad Mohammadi declared that “Iran is ready to halt the deliberate reduction in oil production and increase its output to 95 percent of the pre-sanction level in just one day.”

    Over 80 percent of the country's oil production capacity comes from the southern oil-rich regions, saying: “Given the government's goal of exporting 2.3 million barrels of oil and gas condensate per day during the [Iranian calendar] year 1400 (begins on March 21), a big share of the mentioned figure will be produced in the southern oil-rich regions,” the representative further said.

    “In addition to the projects for increasing oil production, which were awarded last week, we have other plans to maintain the production levels as well,” he added, stated the agreements signed amid the National Iranian Oil Company (NIOC) and domestic contractors for developing the country’s oil fields.

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