Vice President: 67 Oil, Gas Projects to Come on Stream

Date: 16 August 2023 - 21:16

News ID: ۱۱۸۳۴۹

TEHRAN – Iran’s First Vice President Muhammad Mokhber has said that 67 oil and gas projects will be put into operation by the end of the current Iranian calendar year (March 19, 2024).
Out of 83 oil and gas projects worth $36 billion, 67 valued at more than $15 billion will come on stream by March, Mokhber noted, SHANA reported.
On Monday, Oil Minister Javad Owji said, “Last year, we completed semifinished projects worth over $12 billion and more partly-finished projects worth $15 billion will become operational by mid-March 2024.”
On Tuesday, the National Iranian Oil Company (NIOC) said that gas production at Phase 11 of the South Pars (SP) field has started.
He thanked the staff and expert engineers of the company for their efforts to realize the objectives of this giant gas project in the country and added, “Presently, we are witnessing gas production from four gas wells in Phase 11 of the field.”
Phase 11 of the South Pars Gas Field is ready for official inauguration in the presence of Iranian President Ebrahim Raisi, Oil Minister Javad Owji and other high-ranking officials of the country soon, Khojastehmehr stated.
Measures taken by the company in the South Pars Gas Field have not yet finished, he said, adding that $20 billion worth of credit has been allocated for boosting gas pressure at South Pars.
The development plan of Phase 11 of the South Pars Gas Field is ongoing with the aim of extracting 56 million cubic meters of gas/day, the NIOC chief added.