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News number: 9203181570

11:09 | 2013-06-12

Economy

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Several Early Production Projects Starting Up This Year

TEHRAN (FNA)- Head of the National Iranian Oil Company (NIOC) Ahmad Qalebani said several early oil production projects, specially in Yaran, Yadavaran and Northern Azadegan oil fields, will come online over the current Iranian calendar year (ending in March 2014).



"During the year has been named 'The Year of Political and Economic Epic', development of shared oil and gas field will be high on the NIOC's agenda," Qalebani said.

"Fortunately three quarter of oil projects defined in oil industry especially in shared fields have made progress by more than 50 percent," he added.

According to Qalebani, like last year, NIOC plans to meet its investment needs not only from budget's resources but through issuance bonds and National Development Fund (NDF)resources.

"In the past two years, exploratory programs in blocks located in borer areas, maximizing oil production from shared fields and expanding of existing capacities have gained momentum and NIOC will follow the course in coming years," Qalebani continued.

Elsewhere in his remarks, Qalebani said, "Gas draw from South Pars gas field will rise this year after launching phases 12, 15, 16 and part of phases 17 and 18."