Targeting of the fourteenth government to increase oil production

According to Energy Press, citing Meshaal Weekly, one of the most important items on the agenda of the Ministry of Petroleum and the National Iranian Oil Company in the next four years is the revival and increase of crude oil production capacity, which will be achieved by implementing plans to maintain and increase production capacity. including completion and exploitation of wells, solving production challenges and reconstruction and modernization of facilities, focusing on exploitation of wells and restoration of wells wants to achieve it. According to the statement of Oil Minister Mohsen Paknejad, with the implementation of the planned plans, Iran’s oil production will increase by 400,000 barrels per day by the end of next year.
According to this targeting and the approval of the Planning and Budget Organization, Seyed Hamid Pourmohammadi, the head of this organization, addressed the Ministry of Oil and announced: The Central Bank will increase the crude oil production of hydrocarbon fields by 250 thousand barrels per day from the base production of one million until the end of September 1403. and 939,000 barrels per day to 2,189,000 barrels per day, in relation to the payment of facilities to the National Iranian Oil Company in the amount of 3 billion dollars through the operating banks, and the central bank is allowed to determine by using various solutions. to finance this project.
According to this announcement, the payment of 3 billion dollar facility to the National Iranian Oil Company will be made within the framework of the memorandum between the Central Bank, the Planning and Budget Organization and the National Iranian Oil Company regarding the implementation of the strike plan to increase crude oil production by 250,000 barrels per day. Where is the position today?
With about 9% of the world’s conventional crude oil reserves, Iran holds the third place, but with the production of about 3.5% of the world’s crude oil, it occupies the eighth place among the producers. Figures should be said that there is a significant difference between Iran and other countries in terms of extraction from oil tanks and their discharge. The strategic and necessary action in this field is to accelerate and increase the recovery of oil and gas and the production of hydrocarbon products to invest in the actualization of crude oil by implementing infrastructure projects and completing the value chain and developing renewable energies.