Hamid Bovard added that gas production from the "Dey" field has begun with two wells, and a third well will soon join the production network.

Bovard made the remarks on Saturday during the opening ceremony of the 15th Khuzestan Specialized Exhibition of Petroleum Industry, Equipment, Manufacturing in Ahvaz.

He stated that daily oil production has increased by more than 100,000 barrels over the past four months and that an additional 250,000 barrels per day will be added to the country’s oil production capacity by the end of the year, based on current plans.

Bovard highlighted a $3 billion budget from the National Development Fund allocated for urgent oil production projects, noting that 85% of the budget will be spent in Khuzestan province, with a portion dedicated to modernizing and renovating oil facilities in the region.

Gas production begins at Dey field 

The NIOC CEO also announced that plans for the renovation and modernization of 15 drilling rigs, at a cost of $1 billion, have been assigned to the National Iranian Drilling Company. He emphasized that the 14th administration has a comprehensive plan to increase oil production.

Bovard noted that crude gas production under the 14th administration has reached 1.1 billion cubic meters per day. He added that gas production from the Day field has started with two wells, and a third well will soon begin operations.

Referring to the development of the West Karoon civilization and oil fields in the region, Bord said that over the past four months, a $10 billion integrated development contract for the Azadegan field, approved by the Economic Council, has been awarded to relevant contractors, and execution work has already begun.

The 15th Khuzestan Specialized Exhibition of Petroleum Industry, Equipment, Manufacturing is being held in Ahvaz from Jan. 11 to 14 (Saturday to Tuesday) and is open to the public from 9 a.m. to 5 p.m.