He said the company could achieve this additional volume of production despite the restrictions the company faces. He continued: rising the number of drilling rigs, drilling new wells and repairing some others, launching a marine power transmission cable at Soroush oil field and repairing marine oil transfer pipelines were among the efforts the company made to boost production. 

“By drilling new wells, launching new platforms and setting up a number of marine installations this year, IOOC will have a more accurate assessment of its developmental projects this year”, Salari said. 

He further noted that over the last Iranian calendar year, which ended on March 20 2024, oil production from operational regions of Qeshm and Kish rose by 60 percent above the planned target.

According to him, oil production from offshore fields faces some complexities while logistical and weather conditions, the limitations offshore contractors are facing, cruel sanctions and other things have made making up for natural decline of production rate difficult.

IOOC’s official announced: by deploying new drilling rigs and repairing operations we are trying to improve the situation which takes time.