Dasht Azadegan Arvand Company to Start Developing Azadegan Field Soon

TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) announced the start of operations of Dasht Azadegan Arvand Company for the integrated development of Azadegan Field within the next two weeks.

Mohsen Khojastehmehr said on Thursday: “NIOC owns 54% of the organizational positions of the oil industry and 47% of the industry's human resources. and provides technical, engineering and oil and gas services in 16 operating and oil companies with 26 management and headquarters units and 6 representative offices.”

He touched on the oil and gas reserves of Iran's oil industry: “NIOC has 158 billion barrels of crude oil equivalent and 182 billion barrels of crude oil equivalent in the gas sector, which is a total of 340 billion barrels of crude oil equivalent which is considered the first in the world.”

The NIOC CEO further said: “We rank third among national and international oil companies in the world in oil and gas production, and we manage 410 oil and gas reservoirs.”

Khojastehmehr stated that one of NIOC’s achievements in the first 6 months of the 13th government's activity was the 1mbd increase in crude oil production capacity to the levels prior to the sanctions, which cost $500 million.

The official underlined intensive negotiations with international companies in the 13th government, and added: “The most distinctive of them was the $40 billion memorandum with Russian companies, while we had extensive activities in international lawsuits.”

News Code 465750

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