Majid Najarian, announcing the news, stated that under the approved budget and plan by the Joint Management Committee (JMC), the contractor was required to reach a specified cumulative crude oil production level from these fields within the 12-month period of 2024.

He noted that, thanks to the continuous efforts of operational teams and effective collaboration among all project stakeholders, the target was met ahead of schedule by the end of the 11th month of 2024. In the 12th month, production surpassed contractual obligations, exceeding the set commitments by nearly 3 million barrels.

Najarian added that this additional production generated over $200 million in revenue from oil sales beyond annual commitments, significantly improving the project’s economic outlook.

Regarding future plans, he said that in 2025, the project aims to once again exceed contractual production targets. He expressed hope that this trend would help compensate for early-stage declines and enable cumulative production to surpass the required level by the end of the 10-year period.

Najarian emphasized that, given rising production and strategic planning, the project is expected to surpass its defined objectives by the end of its contractual horizon.