Jul 1, 2014, 3:02 PM
News Code: 2719980
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NISOC Eyes 3mb/d oil output

Tehran, July 1, IRNA - The National Iranian South Oilfields Company (NISOC) is seeking to increase oil production to over 3m/bpd, said NISOC Managing Director Hamid Bovard.

The company’s plans to boost production are in line with the Petroleum Ministry’s policies, Bovard said, adding that necessary preparations and executive operations are currently underway to achieve the goal, SHANA reported on Tuesday.

He voiced NISOC’s readiness to do its best to utilize existing capacities, referring to the recent remarks by Petroleum Minister Bijan Namdar Zangeneh, in which he called for boosting oil production.

Drilling and repairing oil wells include a major part of the plans devised to increase production, the official said, adding that the company has carried out over 77,000 meters drilling in the first quarter of the current Iranian year (started March 21). He predicted that the drilling will reach 150 meters in the first half of the year.