The CEO of the National Iranian South Oil Company (NISOC) said that Iran is ready to rejoin global oil markets, with increasing oil production in the country.
Ahmad Mohammadi noted a 30% increase in the company’s oil production in the first half of the previous Iranian calendar year (starting 21 March 2020).
“According to plans, production will increase by another 10% by the end of the new calendar year of 1400 compared to the current figure,” he added.
Mohammadi also noted that six packages have already been signed as part of NISOC’s plan to enhance oil production in 28 of the fields that it operates.
He added that the packages in the second phase are in different stages of development, and work has already started on the third phase.
“By implementing production increase and maintenance plans, a total of 300,000 barrels of oil will be added to the production of south oilfields, and production decline by the same amount will be prevented in these 28 reservoirs,” he said.
