Iranian oil minister Namdar Zangeneh said “In the current year, Iran’s gas production capacity will exceed 1 million cubic meters and we plan to complete fuel supply for industrial units in the current Iranian year (starting on March 21, 2019) “at least so it was reported.
Speaking at the 24th International Oil, Gas, Refinery and Petrochemical Exhibition of Iran, he announced that this year, the oil ministry presented a plan for investments in South Pars. He said “The volume of production in South Pars will increase to 60 million cubic meters per day until the winter.”
He also noted that a special focus was put on the completion of highly progressive petrochemical plans. “Eighty petrochemical plans will operate in the current and forthcoming Iranian year (starting on March 21, 2020). The volume of production will increase from 27,000 tonnes in 2013 to 50,000 tonnes in 2021, while revenues will rise from 19 billion to $ 36 billion in 2021.
This will not only enhance the country’s production, but also increase the demands for goods and engineering services that would be referred to domestic companies,” the Minister added.
Referring to the plan of investing people’s financial resources in the public and private sector in the current year, he said,” We also plan to establish cooperation with startups and knowledge based companies to develop this field, while continuing our cooperation with academic institutions.”
Zangeneh spoke of the continuity of the EPC (Engineering, Procurement and Construction) projects upstream as part of the ministry’s plans.
In his words, six billion dollars are needed to increase production and maintenance in the upstream oil industry. Currently, 10 contracts have been signed and 23 contracts are scheduled to be signed.
The purpose of this plan is to improve oil production, create employment opportunities and support local contractors.
The official insisted on supporting the domestic production of 10 commodity items for EPC and EPD in the current Iranian year, “Most of the goods should be purchased in the country.”
Answering the question of whether Iran could leave OPEC, Zangeneh said, “We will discuss this issue at the next OPEC meeting in June. We were expected to hold talks with OPEC Secretary General. destroy OPEC. ”
Speaking of the effect of INSTEX on oil exports and equipment purchases, Zangeneh added, “To date, Europeans have not provided positive oil services; we hope that the common financial channel will be conducive to supply and purchase oil equipment “./Investing.com