29 August 2016 - 06:31
  • News Code: 267948
NISOC Produces 700m bpd Oil, Pockets $21bn Income

TEHRAN, Aug 29 (Shana) – Production of 700 million barrels of oil, gas condensates and gas in the National South Oil Company (NISOC) in the Iranian year of 1394 (2015-16) and 21 billion dollar income all indicate influential status of the company in the country’s economy.

Producing nearly 300 million cubic meters of gas, the NIOC stands as the second major producer of gas in Iran.

It is to double crude production from fields, mainly the joint fields, this year.

National Iranian South Oil Company produced 700 million bpd oil, gas condensates and gas last year and taking each barrel sold for 30 dollars, it earned the country 21 billion dollars for the country last year. It produced 90 billion cubic meters of gas also last year.

News Code 267948

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