Iran, China Sign New Oil Contracts, MoUs

Date: 11 March 2023 - 21:45

News ID: ۱۱۳۲۴۲

TEHRAN – Iran’s Petroleum Minister Javad Owji on Saturday said that his country has reached new oil and gas agreements with Chinese companies.
Speaking on the sidelines of the opening ceremony of the 16-inch Torbat-e- Jam transmission line project in the Khorasan Razavi province in the northeast, he said, “We have defined various projects with the Chinese and have had good contracts and agreements with large Chinese companies which will be announced in the near future.”
“We have very good news for the people regarding the conclusion of new contracts and memorandums, which will be announced one by one”, he further pointed out.
Stating that in the field of petrol, Iran has traded with the neighboring countries, the Iranian Oil Minister continued that with the measures of refineries and handling of consumption rate, all internal needs are with domestic production.
Elsewhere in his remarks, Owji said although Iran witnessed a very difficult winter, the gas supplies continued without cuts through proper planning, adding that there will be no increase in gasoline prices next year.
“We will not have any price increase in gasoline and petrol next year, and this issue has neither been raised in the government’s budget bill nor in the parliament’s negotiations,” the oil minister further said.
Owji said the country will start producing gas from Phase 11 of South Pars gas field within the next two months.
Saying that no practical step had been taken over the past 20 years in Phase 11 of the South Pars gas field, the oil minister added that Phase 11 will be put into operation after the relocation of the platform of Phase 12 and drilling of a well in Phase 11.
Elsewhere in his remarks, Owji pointed to the agreement concluded with China and noted that his ministry has concluded contracts and agreements with Chinese companies, the implementation of which will serve the interests of the two countries.