Speaking at a Saturday meeting of the Oil Ministry’s deputy ministers, attended by First Vice President Mohammadreza Aref, Hamid Bovard highlighted the Oil Ministry’s commitment to increasing Iran’s oil production capacity by 250,000 barrels per day by the end of the year.

He stated that significant steps have been taken in this regard, and the target will be achieved by year-end.

Bovard credited the recent increase in oil production over the past four months to the efforts of oil industry workers at NIOC subsidiaries.

He noted that the development of the Khash oil field in southern Fars province has been operationalized, and the second well at the "Dey" gas field has come online, with the third well set to begin production in the coming days.

Iran’s gas production breaks records repeatedly

The deputy oil minister emphasized that the 14th administration has broken gas production records four times, achieving a daily production of 1.104 billion cubic meters to ensure uninterrupted gas supply to the national network.

Bovard stressed the need for optimal energy consumption in the country, stating that the lack of fair gas consumption practices has created challenges due to insufficient decision-making in this area.

He confirmed that 100 investment packages in the oil industry are ready and will be presented to domestic and foreign private sectors at a seminar in the coming weeks, with the oil minister in attendance. These packages are expected to facilitate increased oil and gas production.

Need to shorten review time for oil contracts

Bovard identified the lengthy review process for oil contracts by the Adaptation Council as a major obstacle to their implementation.

He mentioned holding a meeting with the head of the Plan and Budget Organization to coordinate efforts to reduce the review period to six months.

He explained that the Adaptation Council, which includes several ministers, reviews contracts to ensure compliance with laws.

Bovard suggested that this review could be conducted within the oil industry with the participation of ministerial representatives.

Five oil projects ready for launch

Bovard announced that five oil projects are ready for operation, including the Varavi Pressure Boosting Station, the Ahvaz Centralized Desalination Plant (110,000 barrels per day), the CITEP (Central Processing Unit of Azadegan Field), Gachsaran Gas Injection, and Rag Sefid Associated Gas Gathering.

20 mcm of APG to be collected

The deputy oil minister invited President Masoud Pezeshkian to officially inaugurate these projects.

He added that multiple projects have been defined to collect associated petroleum gas, with plans to gather 20 million cubic meters by next spring, a significant achievement.

Bovard highlighted that key projects, including Ahvaz Centralized, Bid Boland, and Rag Sefid, are progressing well. The Rag Sefid Associated Gas Gathering project, which is ready for inauguration, will collect approximately 5 million cubic meters of gas.