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Weapons of Mass Destruction (WMD)

185000 barrels to be added to Iran's oil output by implementing 13 new contracts

ISNA - Iranian Students' News Agency

Mon / 17 August 2020 / 16:29

Tehran (ISNA) - Deputy Director for Development and Engineering Affairs at National Iranian Oil Company (NIOC), Reza Dehghan announced that 185,000 barrels of oil will be added to the current oil production capacity of country by implementing 13 new contracts.

Reza Dehghan's remarks came on Monday at the signing ceremony of 13 contracts at the second phase of the plan to maintain and increase oil production capacity.

Of total 13 oil contracts, 10 of which at the first phase have been implemented with 25 percent physical progress up to the present time, he said, adding, "Today, the second and third phases of the contract on increasing oil production will be signed".

Two offshore contracts are related to Resalat and Forouzan oilfields and 11 onshore projects will be done at south oilfields regions, Dehghan added.

The amount of the aforementioned contracts ranges from €35 to €250 million, he said and put the total value of these 13 contracts at over €1.5 million.

Most of these contracts have been inked within two years, he said, adding, "By the implementation of these 13 contracts, 195,000 barrels of oil will be added to the current production capacity."

Some corrections have been made in contracts concluded within the framework of EPC (Engineering, Procurement and Construction) and EPD (Engineering, Procurement and Drilling) in order to expedite pertinent activities, Dehghan emphasized.

According to Shana, the deals were signed on Monday morning in a ceremony held in Tehran between the Iranian Offshore Oil Company (IOOC) and the National Iranian South Oil Company (NISOC), as employers, and 14 Iranian companies as contractors.

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