Wednesday Dec 12, 2018

PetroEnergy Information Network

Tuesday / 10/2/2018 12:00:00 AM / 16:48
Service : Oil
News Id : 284915
Reporter : 763

NIOC to Stick to Oil Production Enhancement Plans: Official

(Tuesday, October 2, 2018) 16:48

TEHRAN (Shana) -- A senior official with the National Iranian Oil Company (NIOC) said the company would continue plans to maintain and enhance the country’s oil production capacity.

"NIOC’s main objective by implementing these projects is to create jobs and bolster the businesses of domestic companies,” said NIOC’s Deputy Managing Director for Development and Engineering Affairs Gholamreza Manouchehri.

Speaking on Tuesday at a meeting with senior executives of the National Iranian South Oil Company (NISOC) in the southwestern city of Ahvaz, the official said: "The National Iranian Oil Company is committed to tapping all its resources to maintain the production ceiling of the country, and we hope that the projects for maintenance and enhancement of oil production will be completed, which will lead to an uplift in Iran’s crude oil output.”

Stating that the NISOC was concerned with most of the project packages for maintaining and increasing oil production, the official added that implementation of the projects could be instrumental in realization of NIOC’s goals under the current of relative recession in the country.

Mr. Manouchehri underlined the fact that there would be no trouble for financing the projects, adding permits had been obtained for the sale of Rial-based bonds.

“What matters in implementation of these projects is maintaining integrity of activities in order to orchestrated implementation of matters and preventing accumulation of idle capital.”


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