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15th Khuzestan oil exhibition kicks off in Ahvaz
NIOC announces initiation of gas production from Dey field
The event, organized by the National Iranian South Oil Company, the National Iranian Drilling Company, Arvandan Oil and Gas Company, and the Oil Industries Engineering and Construction Company, features dozens of companies from 15 provinces across the country, Shana reported.
A total of 284 domestic companies are participating this year to showcase the latest domestically-manufactured equipment for the oil industry.
The exhibition was inaugurated by Hamid Bovard, the CEO of the National Iranian Oil Company (NIOC), along with several oil industry executives.
Speaking at the opening ceremony of the event, the NIOC head announced that a new daily record for crude gas production was achieved under the current administration.
Bovard added that gas production from the “Dey” field has begun with two wells, and a third well will soon join the production network.
He stated that daily oil production has increased by more than 100,000 barrels over the past four months and that an additional 250,000 barrels per day will be added to the country’s oil production capacity by the end of the year, based on current plans.
Bovard highlighted a $3 billion budget from the National Development Fund allocated for urgent oil production projects, noting that 85% of the budget will be spent in Khuzestan Province, with a portion dedicated to modernizing and renovating oil facilities in the region.
The NIOC CEO also announced that plans for the renovation and modernization of 15 drilling rigs, at a cost of $1 billion, have been assigned to the National Iranian Drilling Company. He emphasized that President Masoud Pezeshkian’s administration has a comprehensive plan to increase oil production.
Bovard noted that crude gas production under the current administration has reached 1.1 billion cubic meters per day. He added that gas production from the Day field has started with two wells, and a third well will soon begin operations.
Referring to the formation of a new oil civilization in West Karoon and development of oil fields in the area, Bovard said that a $10 billion integrated development contract for the Azadegan field, approved by the Economic Council, has been awarded to relevant contractors over the past four months, and the implementation phase has already begun.
He emphasized the importance of supporting domestic manufacturers in the oil industry, stating that such efforts not only drive industry growth but also serve the nation by advancing economic goals and self-sufficiency.
Bovard likened the support for domestic manufacturers to a strong, deeply-rooted tree that grows more robust over time.
He said this process enhances national capabilities and improves the quality of equipment and services required by the oil industry.
Bovard noted that this year’s exhibition features more than 280 companies from across the country, showcasing the extensive capacity and high capabilities of domestic industries in meeting the oil sector’s needs.
He added that this participation demonstrates the scientific, technical, and operational expertise of Iranian manufacturers, who are capable of addressing the complex demands of the nation’s oil industry.
The deputy oil minister stressed that domestic manufacturers are viewed as key partners, and efforts are ongoing to facilitate their integration into the oil industry.
He emphasized that close collaboration and sustained cooperation are the foundation for the industry’s success and progress.
“Undoubtedly, as domestic manufacturing capabilities grow, the oil industry will reach new heights of development and self-sufficiency,” the NIOC head said.