Nasrollah Zarei announced an 80,000-barrel increase in the company’s oil production in 1403 (2024-25), attributing the achievement to round-the-clock efforts and constructive collaboration with contractors. He also noted that completing major joint field projects, such as the integrated Azadegan and Yadavaran fields, remains a top priority. 

Emphasizing the critical role of contractors as key stakeholders, Zarei said cooperation with contractors, including a Russian company involved in IPC contracts, has strengthened. "We have settled outstanding obligations between employers and contractors, and about 30,000 to 40,000 barrels of this production increase resulted from these collaborations," he added. 

Integrated Azadegan: Targeting stable production of 550,000 barrels 

Regarding the massive South Azadegan project, Zarei stated that the field’s production and processing unit, with a capacity of 320,000 barrels per day, is the largest in the country. It began trial operations on March 19 after 24-hour work shifts. "When we took over the project, we faced a major shortage of materials. Petropars, the main contractor, purchased part of the materials and fully paid for them two months ago," he said. 

Zarei described the integrated Azadegan project as a key initiative, saying: "This $10 billion project covers the second phase of development for North and South Azadegan fields. Our goal is to reach stable production of 550,000 barrels per day within eight years." The Azadegan Alvand Company, formed with the participation of several banks, has completed its internal organization, and environmental and engineering studies have begun. "We hope executive work will start by early 1404 (March 2025)," he added.  

On the second phase of the Yadavaran field, another major shared field in West Karun, Zarei said drilling 24 wells will begin, with the goal of increasing production by 45,000 barrels within two years. 

Sepehr and Jufair projects: A 30,000-barrel increase 

Zarei explained that development plans for the Sepehr and Jufair fields, with pending decisions finalized in recent months, are now in the procurement and rig supply phase for the second phase. "We expect a 30,000-barrel production increase from this project in 1404," he said. 

Regarding IPC contracts with the Russian company, Zarei said: "We have two active projects with them. The first phase of one project has been successfully completed, and we are now in the production maintenance phase. For the second project, we aim to increase production through new drilling in 1404." 

He also outlined the company’s future plans, including restructuring—approved by the CEO of the National Iranian Oil Company—which will be finalized in 1404. "Equipping the company with smart systems and using artificial intelligence in development projects are among our goals for next year," he said. 

New Year’s Message for Public, Employees 

Zarei noted that holidays will last a maximum of two to three days, with staff present at sites or offices. "I apologize on behalf of the company for the public’s patience amid economic challenges and energy imbalances, and I hope 1404 brings economic relief," he said. He also thanked oil industry workers and his colleagues at the Oil Engineering and Development Company, praising their dedication in harsh conditions and expressing hope for a better year ahead.