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NIOC, domestic firms to boost coop. in production, maintenance projects

An official with the National Iranian Oil Company (NIOC) said the company is planning to sign 10 production, maintenance and enhancement contracts with domestic firms within the next two months.

NIOC, domestic firms to boost coop. in production, maintenance projects
(Thursday, October 10, 2019) 17:26

Reza Dehghan, the deputy CEO of NIOC for development and engineering affairs, said 33 working packages for production enhancement and maintenance projects valued at a total of $6.2 billion were defined by NIOC.

The projects are envisaged to increase Iran’s crude oil production capacity by 280,000 b/d and are planned to be developed by domestic experts, he added.

He said the contracts entail domestic manufacturing of 84 industrial items by Iranian companies.

The official further added that so far 10 such contracts had been signed and 10 others were being prepared to be signed within the next two months. The remaining contracts are expected to increase Iran’s oil production capacity by 70,000 b/d.

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