TEHRAN – The managing director of National Iranian South Oil Company (NISOC) has said the output of the fields developed by the company is going to reach 3.28 million barrels per day (bpd) in the next five years, Shana reported.

Speaking on the second day of the country’s National Conference on Increasing Oil and Gas Well Productivity, Alireza Daneshi said NISOC is responsible for the production of about 80 percent of the country's oil while accounting for 16 percent of the natural gas output.

Emphasizing the vast scope of NISOC operations, the official noted that the company’s five subsidiaries are currently operating in an area of 400,000 square kilometers in seven different provinces.

Daneshi said his company is going to work on a total of 802 oil wells, including 254 under-development wells and 546 operational wells to reach the above-mentioned output within the next five years.

EF/MA