TEHRAN - Iranian President Ebrahim Raisi inaugurated several major projects during his provincial visit to Khuzestan in the Southwest of the country on Friday, IRNA reported.

Official operation of two oil fields, namely Sepehr and Jofeir, in the West Karun region, a sponge iron factory in Ahvaz, and 28 water and energy projects were among the projects inaugurated by President Raisi during his visit to Khuzestan.

Raisi issued an official order to commence operations at the Sepehr and Jofeir oil fields via video conference, with Iranian Oil Minister Javad Oji in attendance.

The inauguration ceremony, a significant part of Raisi’s visit, highlighted the importance of the Sepehr and Jofeir oil fields, which currently contribute over 50,000 barrels per day (bpd) to Iran’s oil production.

The goal is to extract 74,000 bpd of oil from these fields over a 20-year period, with an investment exceeding $2.8 billion.

Speaking on the sidelines of the inauguration ceremony, Oil Minister Javad Oji said oil production in the southwestern province of Khuzestan has jumped one million bpd since the 13th (incumbent) administration took office in August 2021.

“The volume of oil extracted from Khuzestan’s fields amounted to 1.7m bpd when the 13th administration took over while the figure now stands at 2.7m bpd,” he said.

According to the National Iranian Oil Company (NIOC) managing director West Karun is home to 86 percent of the country’s shared oil reserves.

Mohsen Khojasteh-Mehr said the contracts signed for the development of nine oil fields in West Karun are worth more than $20 billion.

Additionally, President Raisi inaugurated the Zamzam 3 sponge iron factory in Ahvaz, which is the largest producer of sponge iron in West Asia and the second-largest globally after India.

The mentioned 28 water and electricity projects also included several power transmission lines, irrigation systems and drinking water supply projects to rural areas.

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