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Iran to Invest 7 bn Dollars in Oil, with Daily Throughput of 6 Million Barrels

Director of the Iranian Offshore Oil Company (IOOC) has described Iran’s new program to invest 7 billion dollars in the Persian Gulf’s gas and oil.

Explaining Iran’s major oil and gas plans in the Persian Gulf, Saeed Hafezi said that, “IOOC’s strategic policies include secondary production projects as well as projects like High pressure water and gas injection to old tanks, development of small and medium-sized fields and blocking gas waste in offshore oil rigs.”

Meanwhile , Managing director of the Iranian Oil Terminals Company (IOTC) has announced a daily throughput of 6 million barrels for Iran’s oil export.

Reviewing the latest status of Iran’s oil terminals with regard to increasing oil exports during the post-sanction era, Seyed Pirouz Mousavi said that, currently, we have accomplished overhaul, reconstruction and renovation of facilities, docks and storage tanks at Iran’s oil terminals in the Persian Gulf.

“We already have costumers for all the oil available in our terminals,” said Mousavi adding that, “by the removal of sanctions we will increase oil production by 500 barrels per day.”

Stressing that currently we have no operational restrictions on welcoming foreign tankers during the post-sanction era, managing director of IOTC concluded that, “Iran possesses the most secure oil terminals for docking and separation of foreign oil tankers.


By Shiva Parizad
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