Oil output to surge by 10,000 bpd with developing 3 oilfields

EghtesadOnline: The development operation of the three oilfields officially began on Saturday with the participation of deputy oil minister and the chief executive of the National Iranian Oil Company (NIOC).

The project, which aims to boost the country’s oil production capacity by 10,000 barrels per day (bpd), is being implemented with a $240 million investment by the private sector as the contractor.

During the groundbreaking ceremony for the development of the oilfields in the operational area of Naft-Shahr in the western province of Kermanshah, NIOC Chief Hamid Bovard announced the increase in oil production capacity, stating that the $240-million project aims to develop and revitalize the border region.

Bovard highlighted the underdevelopment of Naft-Shahr area in recent years, noting that the project seeks to develop small oilfields in the region and restore prosperity to border areas.

He emphasized that the development of these areas will not only enhance security but also bring progress and welfare to local communities.

The deputy oil minister explained that Naft-Shahr is home to one of the country’s oldest oilfields, with several smaller fields in the region currently undergoing development.

“The project is expected to increase Iran’s daily oil production capacity by 10,000 barrels and provide feedstock for the Kermanshah refinery,” he noted. / Mehr