Over $22 Billion of Oil Contracts Signed during Late Iranian President Raisi’s Administration
TEHRAN (Tasnim) – The CEO of the National Iranian Oil Company (NIOC) said that $22.5 billion of oil contracts were inked in two and a half years of the administration of the late President Ebrahim Raisi, 80 percent of which is related to joint oil and gas fields.
Speaking in the signing ceremony of four new oil contracts, Mohsen Khojastehmehr said 1.5 million barrels of oil were added to the daily oil output in the administration and consequently, the country’s export of oil multiplied.
Today, the contract for the Changuleh Joint Oil Field, valued at $1.3 billion, was signed that includes the drilling of 25 oil wells aimed at producing 60,000 barrels of oil per day (bpd), the deputy oil minister added.
Also, another oil contract was inked on the Build-Own-Operate (BOO) scheme to purchase the services of processing crude oil with the Iranian MAPNA Company with a total investment of $100 million aimed at processing 60,000 barrels of oil per day (bpd), Khojastehmehr stated.
These four contracts were signed relying upon the capital and capability of the private sector in the oil industry and will generate $17 billion in proceeds for the country, he went on to say.
