Namdar Zanganeh expounded on the bylaw ratified by the Council of Economy on increasing oil production volume from 29 oilfields and added, “by implementation of this comprehensive plan, 460 million barrels of oil per day (bpd) will be added to the current oil production volume.”

A number of 29 plans have been designed for retaining and increasing oil production volume in the provinces of Ilam and Khuzestan, Gachsaran and Iranian Offshore Oil Company (IOOC), so that its financial resources will be provided by the people, he maintained.

All activities for increasing oil production volume will be assigned to Iranian companies, he said, adding, “a detailed list of Iranian oil equipment is attached to the contract and contractors are duty bound to purchase these equipment and machinery only from Iranian companies.”

Generating employment and demanding for Iranian goods and services has been cited as one of the main objectives of this comprehensive plan, the oil minister concluded.

/SR