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NIOC to Stick to Oil Production Enhancement Plans: Official

 NIOC to Stick to Oil Production Enhancement Plans: Official

Saturday، 06 October 2018 | Article Rating

TEHRAN (Shana) -- A senior official with the National Iranian Oil Company (NIOC) said the company would continue plans to maintain and enhance the country’s oil production capacity.

 

"NIOC’s main objective by implementing these projects is to create jobs and bolster the businesses of domestic companies,” said NIOC’s Deputy Managing Director for Development and Engineering Affairs Gholamreza Manouchehri.

Speaking on Tuesday at a meeting with senior executives of the National Iranian South Oil Company (NISOC) in the southwestern city of Ahvaz, the official said: "The National Iranian Oil Company is committed to tapping all its resources to maintain the production ceiling of the country, and we hope that the projects for maintenance and enhancement of oil production will be completed, which will lead to an uplift in Iran’s crude oil output.”

Stating that the NISOC was concerned with most of the project packages for maintaining and increasing oil production, the official added that implementation of the projects could be instrumental in realization of NIOC’s goals under the current of relative recession in the country.

Mr. Manouchehri underlined the fact that there would be no trouble for financing the projects, adding permits had been obtained for the sale of Rial-based bonds.

“What matters in implementation of these projects is maintaining integrity of activities in order to orchestrated implementation of matters and preventing accumulation of idle capital.”

Pasargad Energy Development Co. (PEDC) is an independent energy company based in Iran. PEDC is an integrated energy company whose activities span the entire value chain including exploration, production, refining, petrochemicals marketing, power generation & renewables as well as new high-tech venture capitalizing. Our headquarter is located in Tehran. PEDC is present across the Iranian continental shelf and international market through its subsidiaries. We create value for our shareholders through active investment, high-level monitoring of our projects, building world-class partnership and managing our risks effectively and making balanced portfolio. Meantime, we contribute to the sustainable development of the energy sector and communities in our country. PEDC’s competitiveness relies upon our values-based performance culture, with a strong commitment to transparency, cooperation and continuous operational improvement. As a wholly owned subsidiary of the Pasargad Financial Group, with Pasargad Bank being a distinctive shareholder, we owe our success to our experience, management knowledge and strong local/international partnerships since 2008. PEDC is committed to maintaining sustainability and being recognized as the strategic partner of choice in Iran’s energy and petrochemical sector.​

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