Addressing a training seminar for energy reporters on Monday, Saifollah Jashnsaz said the company's revenue stood at $78 billion in the Iranian calendar year 1387 (started on 21 March 2008) of which 30 percent allocated to the petroleum ministry and by considering paying taxes, the figure decreased to 13 percent.
Noting that the allocated credits for the last year covered just fifty percent of the needs, managing director of NIOC stipulated that it is difficult to count just on domestic financial resources to meet NIOC investment needs.
Stressing on the importance of investment in the oil industry, Jashnsaz said: if we ignore the investment, the least of the loss would be failure to achieve the Outlook goals.
Deputy petroleum minister said development of joint oil fields especially South Pars gas field is among the priorities of the NIOC activities. He said in addition to South Pars gas field that Iran and Qatar have joint interests in it, we have 12 other joint fields with UAE, Kuwait and Saudi Arabia, that their development calls special attention from officials.
Concerning the existence of some joint fields between Iran and Iraq, Jashnsaz said there are three kind of oil and gas fields across the border with Iraq, which includes operating fields, fields which are under development and fields with potentials for exploration.
He said to develop these fields more than 10 to 15 billion dollars investment is needed.
Emphasizing on enhancing oil recovery from the oil fields, engineer Jashnsaz said: at present extraction from the fields amounts to 27 percent and we need to have access to new methods to increase the rate of recovery.