NISOC head: Iran can overcome sanctions by relying on domestic capabilities

SHANA (Tehran) – The 13th administration proved that Iran can defeat sanctions by relying on domestic capabilities, said the National Iranian South Oil Company (NISOC) managing director.

Delivering speech on Sunday at the inauguration ceremony of development project of Kaboud oil field, 70km north of Andimeshk, southwestern province of Khuzestan, Alireza Daneshi added the 13th administration has developed a vision – making a change for the country’s interests by relying on domestic capabilities – since it took over.

“Plans were outlined in the first six months of the 13th administration’s term and we managed to get prepared for big changes and return to the pre-sanctions conditions by setting a new record at the shortest time possible,” he continued.

The incumbent government has prioritized the development of fields, particularly less-developed ones such as Kaboud oil field, the NISOC CEO mentioned.

Having two reservoirs of Bangestan and Asmari, Kaboud oil field was picked for development by hiring domestic contractors and using homegrown equipment, he explained and added, “To that end, we decided to drill six new wells, out of which five have now become operational.”

Both reservoirs of Kaboud field have high-quality light oil, which lowers costs when used in the petrochemical sector, Daneshi noted.

It is necessary to prepare a plan soon to collect the associated petroleum gas (APG) of Kaboud oil field, he concluded.

News ID 629942


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