27 November 2023 - 16:05
  • News ID: 633708
Iran’s 10-year gas storage record shattered

SHANA (Tehran) – The National Iranian Oil Company (NIOC) managing director said gas stockpiled in the first eight months of the current Iranian calendar year (staring March 21, 2023) broke the country’s 10-year record.

Mohsen Khojastehmehr added around three billion cubic meters (bcm) of gas have been stored in Sarajeh and Shourijeh facilities during the period.

The NIOC chief said the stored volume will be injected into the national grid in the upcoming winter.

Pointing to the recent meeting between President Seyyed Ebrahim Raeisi and the Oil Ministry officials, Khojastehmehr added NIOC’s plan for carrying out studies and drilling operations in some fields were discussed and the company was assigned to conduct feasibility studies for developing the fields and stockpiling gas in the near future.

Oil output, economic growth up

All oil and gas production projects implemented under the 13th administration were aimed at increasing the country’s revenues and economic growth, the NIOC CEO underlined.

Based on the statistics released by the Central Bank of Iran (CBI), the oil and gas industry’s economic growth in spring 2023 stood at 19.5 percent, the highest figure so far.

The country’s oil output has jumped by some 1.3 million barrels per day (bpd) since the incumbent administration took office, showing a 60 percent increase, he continued.

The development projects of joint fields have contributed to the hike in domestic production, said Khojastehmehr, explaining 60 new wells in South Azadegan field have become operational and drilling systems installed in shared fields have witnessed a 70 percent increase.

NIOC has given top priority to the development of joint fields, said the official, concluding the company’s exports and collection of debts have also increased the country’s revenues.

News ID 633708


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