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Iran's oil production capacity to rise by 160,000 b/d

Tehran, March 20, IRNA-Iran's oil production capacity will rise by 160,000 b/d once projects for development of Rag Sefid and Bangestan oil fields in Ahvaz, a city southwest of Iran, and of South Pars Oil Layer come on stream.

Speaking to reporters on the sidelines of a ceremony for conclusion of contracts for development of South Pars Oil Layer as well as the Bangestan and Rag Sefid oil fields southwest of Iran, Managing Director of the National Iranian Oil Company Mehdi Mir-Moezzi said the projects are worth dlrs 3.3 billion.

Mir-Moezzi said upon failure to deliver the projects to foreign bidders after several counts of tenders, his Company entrusted the job to domestic enterprises after receipt of permission from the Economy Council.

He expressed hope that Iranian companies, leaving shining record in implementation of similar projects in the past, would be able to ulfill the contracts in proportion to the installed ceilings.

With conclusion of the contract, it can be claimed that Iran has no more offshore project left untouched or unimplemented, said Mir-Moezzi, adding the South Pars Oil Layer is common with Qatar.

He said the contract is signed for development of Bangestan oil field in Ahvaz to check likely fall in the production and enhanced oil recovery through careful and update studies on the fields and application of correctional methods.

He added that Qeshm Oil and Energy Industries Development Company, to which the project for development of Bangestan oil field has been entrusted, has been contributing to the NIOC's 16 oil field development projects.

The NIOC official said the domestic companies, with long years tracks of activities in the oil sector, should not be left idle.

He said Iran's Petro Iran Company, winning the project for development of oil layer in South Pars field, has received invoices from Sudan, Syria, and Libya to run the bids for oil projects in these countries.

... Payvand News - 3/19/05 ... --

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