Gulf Oil and Gas accountACCOUNT

Iran Signs $6.2bn Worth of Contracts to Increase Oil Output by 280,000 bpd

Source: www.gulfoilandgas.com 7/13/2019, Location: Asia

Iran has awarded dozens of contracts worth $6.2 billion to domestic companies to have oil production increase by 280,000 barrels per day (bpd) as part of a plan entitled “The extra-output scheme”.

A senior official from the National Iranian Oil Company said that 10 out of a package of 33 contracts had been signed with companies and manufacturers based in Iran to start construction and installation of equipment at offshore and onshore oil fields in the country.

Reza Dehghan said the contracts showed that Iran was determined to increase investment in its oil industry despite sanctions imposed by the United States which restricts the country’s ability to export crude.

“The execution of the extra-output scheme in the oil fields is a sign that the rights of the Iranian nations in joint fields are protected,” said the official, making a reference to the oil fields that are shared with neighboring countries.

Dehghan said nearly a quarter of the projected increase in Iran’s daily oil output would come from Ramshir and Mansouri oil fields, both located in the southwestern Khuzestan province.

He said around a third of the value of the contracts, some $2 billion, would be dedicated to equipment and installation facilities that would mostly be built by Iranian companies.

Despite having its crude exports reduced as a result of sanctions, Iran has maintained its oil production at levels ranging from three to four million bpd since last year.

Production News in Iran >>

Egypt >>  12/10/2019 - SDX Energy Plc (SDX) is pleased to announce that it has achieved its targeted stabilised plateau production rate of 50 MMscfe/d from its operated Sout...
Norway >>  12/9/2019 - On 7 January next year, His Majesty the King will perform the official opening of the Johan Sverdrup field centre. Norway’s Prime Minister Erna Solber...

Australia >>  12/5/2019 - Senex Energy has announced that the Gemba gas field in the Cooper Basin is on production following successful tie-in to the Santos-operated gas gather...
Libya >>  12/5/2019 - National Oil Corporation (NOC) confirms that production at El Feel oil field has been interrupted as a result of an unlawful valve closure on the expo...

Iran >>  12/4/2019 - Pars Petrochemical Plant has increased its year-on-year productivity by 8% in the first 8 months of the current calendar year, which began on March 21...
Iraq >>  12/4/2019 - Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has produced its three-millionth tonne of oil since starting commercial production at the Sarqal...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 |

Oil & Gas Projects in Iran >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.