NICOC to spend $ 7 bn on doubling oil production

Oct 21, 2007 02:00 AM

The National Iranian Central Oilfields Co. (NICOC) will spend some $ 7 bn on doubling crude oil production to 400,000 bpd by 2016.
State-run NICOC, a subsidiary of National Iranian Oil Co., plans to raise crude production from the country's central regions by 198,000 bpd as part of the company's 20-year outlook plan, managing director Alireza Zeighami was quoted as saying.

At the same time, natural gas and gas condensates production will be boosted by daily rates of 135 mm cm to 400 mm cm and 40,000 barrels to up to 130,000 barrels respectively.
NICOC will carry out 3D seismic surveys covering an area of 2,300 sq km by 2016, Zeighami said.

The company presently produces 65 % of Iran's gas, Zeighami said.
Iran is the second largest producer among Organization of Petroleum Exporting Countries, presently producing about 4 mm bpd of crude.

Source: Dow Jones & Company
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« May 2020 »
May
MoTuWeThFrSaSu
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Register to announce Your Event

View All Events