He stated that while implementing development projects, it is crucial not only to boost capacity but also to prevent declines in oil and gas output. 

Speaking at a meeting of the Oil Ministry’s deputies on Saturday, attended by First Vice President Mohammadreza Aref, Paknejad highlighted the Oil Ministry’s role as a key driver of the country’s economy. He noted that during recent economic challenges, often referred to as an "economic war," the oil industry has been at the forefront. 

Paknejad stressed that the oil industry cannot lead the economic battle and drive development without the full support of all government entities. He expressed gratitude for the effective and encouraging backing from the president, the first vice president, and other government officials, which has enabled the oil industry to achieve significant short-term goals since the start of the 14th administration. 

Addressing energy shortfalls 

The oil minister identified the management of winter fuel supplies as the first major challenge for the new administration.

He criticized the use of the term "energy imbalance," preferring to call it an "energy shortage," as the former term masks a significant deficiency. 

Despite initial concerns about liquid fuel reserves, particularly for power plants, Paknejad expressed confidence that the situation has improved significantly, thanks to the efforts of oil industry professionals.

He expressed hope that the country would continue to manage fuel supplies effectively through the end of the year. 

Significant production increases 

Paknejad praised the quantitative and qualitative achievements of the oil industry under the 14th administration, noting that daily crude oil production has increased by 60,000 barrels, and natural gas production has risen by 30 million cubic meters. 

He attributed part of this growth to operational innovations and development initiatives. For example, several wells in the "Dey" gas field in Fars Province were recently brought online, adding 3 to 4 million cubic meters of daily gas production in the central region. Similarly, new wells in the "Khangiran" field increased gas production by 1.5 to 2 million cubic meters, addressing pressure drops in the northeast, a vulnerable area in the gas network. 

Refinery output, fuel savings 

Paknejad also highlighted a 10-million-liter increase in daily gasoline production and an 11-million-liter rise in gasoil output, which has reduced the need for costly fuel imports. 

$18b investment in SP pressure boosting 

The minister emphasized the importance of the South Pars pressure boosting project, describing it as "more urgent than daily bread" for the country.

The project, which requires an $18 billion investment, involves seven hubs, each costing $2.5 to $3 billion. While the benefits will materialize over the next five years, Paknejad stressed the need to start immediately. 

Balancing production-consumption 

Paknejad noted that addressing energy shortages requires both increased production and better demand management.

He advocated for a combination of pricing and non-pricing strategies, with a preference for non-pricing measures, though he acknowledged the need for energy price reforms. 

Goals of Seventh Development Plan 

To meet the Seventh Development Plan’s targets, Paknejad outlined the need for $50 billion to achieve a crude oil production capacity of 4.6 million barrels per day and $75 billion to increase natural gas production to 1.35 billion cubic meters per day.

In total, $110 to $120 billion is required to meet these goals. 

Funding, technology needs 

Paknejad acknowledged the difficulty of securing such large investments and proposed using resources from the National Development Fund and foreign financing.

He also emphasized the need for advanced technology to increase refining capacity by 500,000 barrels per day and expand petrochemical production. 

Focus on human resources 

The minister highlighted the importance of maintaining a motivated workforce in the oil industry.

He criticized the current salary cap policy, arguing that it fails to account for the challenging conditions faced by workers in remote operational areas compared to those in Tehran.

Paknejad called for delaying the implementation of the salary cap to ensure workers remain motivated. 

The minister concluded by praising the dedication of oil industry employees and reaffirming the sector’s commitment to achieving the nation’s energy goals.