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NISOC Nearly Fulfills Production Duty in Q1

Source: www.gulfoilandgas.com 6/29/2016, Location: Asia

Managing director of National Iranian South Oil Company (NISOC) said the company has fulfilled 99% of its duties regarding production of crude oil in the first quarter of the current Iranian calendar year which began on March 20.

Bijan Alipour said the company offered 100.3% of its production duty to the country last year.

He said the removal of sanctions on Tehran nuclear program has led to raised output by the company.

Alipour added that the company will exceed its duties in the coming months by producing more oil than it is required by the National Iranian Oil Company (NIOC) .

NISOC operated 45 small and large oil and gas fields in Iran and its production accounts for 80% of Iran's crude oil and 16% of its natural gas output

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