CEO of the National Iranian Company Mohsen Khojastehmehr stated that the development and maximal production of both onshore and offshore joint oil and gas fields is the approach taken by the current administration.
Producing 5.7 million barrels of oil per day (bpd) is the main objective followed by the National Iranian Oil Company by 2029, he said, adding that $90 billion of investment is needed in this sector to materialize the objective.
Development of the South Pars Gas Field was put at the top agenda of the administration of President Ebrahim Raisi when he assumed office in August 2021, Khojastehmehr emphasized.
The gas field is the largest gas field in the world which accounts for about 50 percent of the country’s total gas reserves, the NIOC chief underlined.
Relocation of the platform at Phase 11 of South Pars Gas Field is a manifestation of the high capability and potential of the 13th administration, Khojastehmehr said, noting the relocation of this platform is fully carried out by domestic engineers.
Source: Tasnim
