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NISOC to Resume Pre-Sanctions Oil Output Levels

Source: www.gulfoilandgas.com 1/19/2021, Location: Asia

The CEO of the National Iranian South Oil Company (NISOC) announced the company's readiness to stop reducing its crude oil output and increase production to pre-sanctions’ levels.

Ahmad Mohammadi emphasized that in addition to the plans to maintain and increase oil production, the company has other plans to maintain the level of production.

“We have annual financial and operational plans that are followed and include above-ground and underground sections such as wellhead operations, facilities and pipelines,” he said.

Noting that several annual and daily projects have been defined at NISOC, he added: "By implementing these projects, in addition to preventing a reduction in production, we will increase the level and production capacity of oil-rich areas to the goals of the Ministry of Petroleum and the National Iranian Oil Company".

Mohammadi said that more than 80 percent of the country's oil production capacity is in the oil-rich southern regions.

The NISOC CEO further noted that in any period considered by the National Iranian Oil Company, NISOC will be ready to stop the reduction of oil output in the southern regions and return to production levels prior to the sanctions.

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