TEHRAN – Head of National Iranian South Oil Company (NISOC) has said his company is planning on increasing the production capacity of the oilfields developed by the company to 3.3 million barrels per day (bpd), Shana reported.

Speaking in a press conference on the sidelines of Iran Oil Show 2022, Alireza Daneshi put the NISOC’s current oil production capacity at three million bpd, saying that the 300,000-bpd increase in the production capacity of the company’s oil fields is going to be realized within five years.

Pointing to the great potentials of the Iranian oil industry and the capacities of domestic companies, the official said: “Knowledge-based production has been considered a priority in National Iranian South Oil Company because focusing on this issue can help the country's oil industry achieve new horizons.”

“Nowadays, countless derivatives are extracted from oil and gas around the world, so that only 5,300 products are obtained from oil and 700 products are obtained from natural gas, but in our country, we have not achieved much in this regard and we mostly sell oil in the crude form. We must try to rectify this situation in a favorable way,” Daneshi stressed.

EF/MA