{"id":7780,"date":"2023-09-21T12:03:12","date_gmt":"2023-09-21T12:03:12","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=7780"},"modified":"2023-09-21T12:03:12","modified_gmt":"2023-09-21T12:03:12","slug":"50b-projects-to-drive-irans-oil-gas-output-growth-underway-nioc-official","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/7780\/","title":{"rendered":"$50b projects to drive Iran\u2019s oil, gas output growth underway: NIOC official"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\"><p><span class=\"pre-content-text\"><a style=\"color: #0038a8;\" href=\"https:\/\/roydadnaft.ir\/English\/\">RoydadNaft &#8211; <\/a><\/span>\u00a0A number of oil and gas projects worth some $50 billion are in progress, said a National Iranian Oil Company (NIOC) official on Wednesday.<\/p>\n<div class=\"item-body\">\n<div class=\"item-text\">\n<p dir=\"ltr\">The NIOC deputy chief for development and engineering affairs added the projects are aimed at increasing the country\u2019s oil and gas output.<\/p>\n<p dir=\"ltr\">Similar projects worth $33 billion will be also implemented in the future, Reza Dehqan continued.<\/p>\n<p dir=\"ltr\">Making the remarks in the NIOC-Insurance Companies Forum, he said Iran\u2019s oil and gas production capacities will reach 5.5 million barrels per day (bpd) and 1.5 billion cubic meters per day (bcf\/d) respectively from current 4m bpd and 1 bcf\/d by 2029.<\/p>\n<p dir=\"ltr\">To that end, it is necessary to invest $160 billion, two-thirds of which should be funded by foreign investors, he explained.<\/p>\n<p dir=\"ltr\">The development of Phase 11 of the South Pars gas field is among the most important projects, mentioned Dehqan, adding this phase\u2019s production started after a 20-year delay last month.<\/p>\n<p dir=\"ltr\">According to the NIOC official, a $2.4 billion investment is needed for completing the development of Phase 11.<\/p>\n<p dir=\"ltr\">He pointed to future investments, namely $500 million for completing wells of other phases, $1.1 billion for drilling 35 wells in the South Pars gas field, and $15 billion for launching gas compressor stations in the South Pars field.<\/p>\n<p dir=\"ltr\">The development of the first phase of Kish, Balal, and Farzad B gas fields with $930 million, $440 million, and $1.8 billion investments respectively was also mentioned by the official.<\/p>\n<p dir=\"ltr\">Totally $22 billion have been invested in the underway projects for boosting the country\u2019s gas output, said Dehqan, continuing that some $20 billion projects have been also invested in ongoing projects for increasing oil production.<\/p>\n<p dir=\"ltr\">He stated 100 investment opportunities in oil and gas industry will be offered in a couple of weeks.<\/p>\n<\/div>\n<\/div>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2023-09-21T12:03:12+00:00\"> 21 September 2023<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"A number of oil and gas projects worth some $50 billion are in progress, said a National Iranian Oil Company (NIOC) official on Wednesday.","protected":false},"author":1,"featured_media":7781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[47,18,36,19,16],"tags":[],"services":[],"class_list":["post-7780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","category-headline","category-lastnews","category-news","category-oil"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/7780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=7780"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/7780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/7781"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=7780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=7780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=7780"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=7780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}