Roknoddin Javadi
,CEO,National Iranian Oil Company
The face that runs the place at the National Iranian Oil Company (NIOC), Roknoddin Javadi, knows that the eyes of the world will be on the organisation this year, as it presses ahead with plans to increase the Islamic Republic’s oil production in the post-sanctions era.
Iran has already had a dramatic effect on the world’s oil industry, resisting calls from its OPEC peers to freeze output, insisting that it would consider the move once it had achieved its target of 4mn barrels per day.
Javadi has also revealed that NIOC will be releasing bonds worth $1.5bn to help fund the country’s oil projects. Many of the company’s fields are ageing and underdeveloped, meaning billions of dollars are needed to bring facilities up to standard.
In January, a Memorandum of Understanding (MOU) was signed between Total and NIOC, apart from a framework agreement for the purchase of crude oil, in particular for French and European refineries. Following the MOU, NIOC will provide the technical data on some oil and gas projects, so that Total can assess potential developments in Iran.
Following the agreement, Javadi indicated that the agreement with Total is just one of a number of deals the organisation is working on, while reiterating the desire to boost output and exports.
“NIOC has conducted talks with traditional buyers and customers, seeing no limit on resuming oil sales or inking new contracts with foreign oil companies,” he said.
