{"id":13829,"date":"2025-04-09T07:15:30","date_gmt":"2025-04-09T07:15:30","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=13829"},"modified":"2025-04-09T07:15:30","modified_gmt":"2025-04-09T07:15:30","slug":"pedec-investment-a-prerequisite-for-achieving-irans-oil-goals","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/13829\/","title":{"rendered":"PEDEC: Investment: A prerequisite for achieving Iran\u2019s oil goals"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0The CEO of Petroleum Engineering and Development Company (PEDEC) emphasized investment as the key prerequisite for realizing new oil and gas production capacities and stressed the need for active private sector participation.<\/p>\n

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Nasrollah Zarei pointed to the historical reliance of Iran\u2019s budget on oil, stating: \u201cDespite efforts by various administrations to reduce this dependence, the narrative of \u2018oil as the engine of economy and development\u2019 remains an undeniable reality.\u201d<\/p>\n

He noted that development in the oil sector itself drives the industry, warning: \u201cIf developmental goals\u2014particularly in upstream operations\u2014are not met, the country\u2019s economy will face significant turbulence, affecting livelihoods and overall progress.\u201d<\/p>\n

Under the Seventh Development Plan (2024-2028), Iran aims to increase oil production to 4.8 million barrels per day and gas output to 1.34 billion cubic meters daily, Zarei said. Of this, a daily increase of 1.08 million barrels from shared oil fields is part of the broader production boost.<\/p>\n

Given current production levels and natural field decline, he added, about 1 million barrels of oil and 350 million cubic meters of gas per day require new projects and contracts\u2014a major responsibility for the government and the Oil Ministry.<\/p>\n

Zarei stressed the need for reforms and large-scale investment, calling an upcoming oil industry investment conference the \u201cfirst step in this strategic path.\u201d<\/p>\n

He noted that in a year declared by the Supreme Leader as \u201cThe Year of Investment for Production,\u201d all sectors must work toward this goal. Recent contract reforms at the National Iranian Oil Company have improved investment appeal, and private sector engagement is expected.<\/p>\n

Citing other oil-producing nations\u2019 experiences, Zarei suggested offering part of NIOC\u2019s shares in the capital market to reduce government size, boost public economic participation, and absorb liquidity. This would strengthen domestic markets and, if conditions allow, could extend internationally.<\/p>\n<\/div>\n<\/div>\n

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