Hamid Bovard said that the 14th administration, since taking office in August, had been able to raise natural gas extraction by 30 mcm/d which is very helpful in reducing the country's energy imbalance.
"Daily additional gas extraction sometimes reaches 40 mcm/d which is the result of NICO's affiliates' workforce efforts in Pars Oil and Gas Company, Iranian Central Oil Fields Company (ICOFC) as well as our colleagues in Sarkhs and Khangiran in the northeastern operational zone of the country,", he said.
According to him, the gas boosting-pressure station of Varavi became operational a few days ago and its launching has raised the country's natural gas production capacity by 3 to 5 mcm/d.
Bovard continued that during this short period, NIOC has been able to achieve another great success, which is boosting daily oil production by 60 thousand barrels per day by additional withdrawal from the southern oil regions of the country including areas covered by the National Iranian South Oil Company (NISOC), Arvandan Oil and Gas Company, Iranian Central Oil Fields Company (ICOFC) and West Karoon Region.
Elsewhere in his remarks, he said that the Economic Council has approved three large oil industry contracts of which the first one is expected to enter the execution phase next week.
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