Iran’s crude extraction from joint Azadegan oilfield to rise to 0.5 mbd: Minister
Iranian Oil Ministry has plans to increase the daily extraction of crude oil from the joint oilfield of Azadegan to 500,000 barrels per day, announced Oil Minister Javad Owji, noting that the figure currently stands at 200,000 barrels per day.
Speaking on the sidelines of a cabinet meeting in Tehran on Wednesday, the minister added that six contracts have been signed on the development of oil and gas fields, Shana reported.
Owji went on to say that contracts with a total value of $14 billion will be inked by March 19 to develop eight other oil and gas fields.
The Azadegan oilfield is about 80km west of the city of Ahvaz, southwestern province of Khuzestan, and along the Iran-Iraq border, covering a total area of 1,500 square kilometers. It is known to be Iran’s largest joint oilfield, with about 32 billion barrels of oil in place.
Less reliance on petrodollars
Iran’s oil minister said on Tuesday the development of the tourism industry can contribute to the country’s economy and reduce reliance on oil revenues.
Javad Owji made the remarks during his visit to the 17th Iran International Tourism and Related Industries Exhibition at the Tehran International Permanent Fairgrounds.
According to a Ministry of Cultural Heritage, Tourism, and Handicrafts report, the tourism sector has witnessed a 50 percent growth in the current Iranian year (starting March 21, 2023), said the oil minister.
Tourism experts from different countries have come to Iran to visit the exhibition, Owji quoted the officials as saying.
He said the Oil Ministry has all the time supported the tourism industry, particularly in the field of social responsibility in all provinces.
The 17th Iran International Tourism and Related Industries Exhibition opened on Monday and will end today.