With refer to a hundred years experience in oil industry, Masoud Mir Kazemi, the petroleum minister, noted that the Islamic Republic of Iran is capable to produce 4/5 million barrels of crude oil and 550 million cubic meters of natural gas per day.
He stipulated that the Islamic Republic of Iran provide several oil and gas producing countries with its technical and instructional services.
Noting that before the Islamic Revolution victory, Iran was nothing except than an oil exporter and consuming commodities importer, Mir Kazemi added that today Iran has remarkable achievements in the field of aerospace, stem cells, nuclear energy, industry, technical and engineering services.
The petroleum minister evaluated bilateral relations between the two countries desirable and pointed out that the Iran amd South Africa have common grounds on international issues.
Referring the investments made by South African companies in Iran's petrochemical industry, Mr. Mir Kazemi said, this shows that there are good potentials to expand bilateral relations in different dimensions.
He remarked that while South African company, Sasol, has had a successful presence in the Ariasasol petrochemical project in Assaloye, it could be more active in Iran's oil industry projects.