Iran expects oil production capacity to pass 4.5 mm bpd by yearend
The General Director of National Iranian Oil Company (NIOC), Seyyed Mahdi Mirmo’azi said on the sidelines of
the first international conference on Iran’s gas export that the oil production capacity of the country will
mount up higher than 4.5 mm bpd by the end of the current Iranian calendar year 1383 (March 20, 2004-March 19,
2005).
He also added that the gas contract for the development of phase 11 of south Pars gas field is to be awarded to Total
of France.
Pointing to the average annual oil production capacity of the country, he said that the average oil production of the
country is projected to hit 4.25 mm bpd. He went on to say that the contract to export gas to United Arab Emirates
(UAE) has been finalized, adding that the pact to export gas to Kuwait is in its final stages and it is hoped to come
to an end in near future.
Elsewhere in his remarks, he referred to Azadegan oil contract with Japan, saying that Japan is seeking the
permission of the country to operate several foreigncompanies in this regard, and still the issue is in progress.
Referring to the contracts with China and India, he said that the contracts are in early stages and it is projected that it will take a long time in order to be settled by the involved countries.
