15 April 2014 - 16:08
  • News ID: 215147
NIOC Eyes Oil/Gas Ouput Hike

TEHRAN April 15 (Shana)--The National Iranian Oil Company (NIOC)'s Department for Consolidated Planning has stressed the need for the development of oil and gas fields Iran shares with neighboring countries.

It also called for the enhancement of oil and gas production in the current calendar year to March 2015.

The department called for credit allocation to the giant South Pars gas field as well as West Karoun hydrocarbon fields.

NIOC's main plans for the current year include financing projects, financial discipline as well as further oil and natural gas production.

Iran shares the supergiant South Pars with Qatar in the Persian Gulf waters. It also shares fields with other neighbors including Iraq, Kuwait and the United Arab Emirates.

Petroleum Minister Bijan Namdar Zanganeh has prioritized joint oil and gas fields development.

News ID 215147

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