Alwaght- Iran can overcome Western sanctions by mobilizing domestic capabilities, Iran Press quoted managing director of the National Iranian South Oil Company (NISOC) as saying.
Delivering a speech on Sunday at the inauguration ceremony of the development project of the Kaboud oil field, 70km north of Andimeshk, the southwestern province of Khuzestan, Alireza Daneshi added the administration of Seyyed Ibrahim Raisi has developed a vision of -making a change for the country’s interests by relying on domestic capabilities- since it took over.
“Plans were outlined in the first six months of the 13th administration’s term and we managed to get prepared for big changes and return to the pre-sanctions conditions by setting a new record at the shortest time possible,” he continued.
The incumbent government has prioritized the development of fields, particularly less-developed ones such as the Kaboud oil field, the NISOC CEO mentioned.
Having two reservoirs of Bangestan and Asmari, the Kaboud oil field was picked for development by hiring domestic contractors and using homegrown equipment, he explained and added: “To that end, we decided to drill six new wells, out of which five have now become operational.”
Both reservoirs of the Kaboud field have high-quality light oil, which lowers costs when used in the petrochemical sector, Daneshi noted.
It is necessary to prepare a plan soon to collect the associated petroleum gas (APG) of the Kaboud oil field, he concluded.
Iran had recently reported a surge in its oil sales, especially to China.
British Petroleum reported on Saturday that Iranian oil sales habe gone beyond 3 million barrels a day, adding that Tehran has managed to beat the American sanctions as tracking companies suggest.