Iranian companies sign eight agreements to boost oil production

Iranian companies have signed eight agreements under the project to store and increase oil production potential, estimated at $ 1.2 billion, Angi reports.

The documents were signed between the National Oil Company and contractor companies.

Earlier, Iranian President Hassan Rouhani, in light of the significant reduction in Iranian exports in recent years, announced that Tehran plans to sell significantly more than 2.3 million barrels of oil per day in 2021.

Such indicators were before the United States imposed sanctions blocking oil supplies by Tehran to other countries.

The President emphasised that Iran needs to become a significant export force not to be subject to sanctions. A year earlier, the Iranian authorities announced the need to remove oil revenues dependence and developed a budget for this purpose.

Jaafar Qaderi, member of the planning and budgeting committee in the Iranian parliament, said that Iran plans to produce 4.5 million barrels of oil and gas condensate per day in 2021. Of these, 2.3 million are intended to be exported, and 2.2 million barrels to be used domestically.

Tags: gas, oil, hydrocarbon production, sanctions, foreign affairs, export, price, petroleum products, economy

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