Oil Sector Priorities Outlined

Oil Sector Priorities Outlined
Oil Sector Priorities Outlined

The development of oil and gas fields shared with neighboring states, collection and processing of associated petroleum gas and optimization of hydrocarbon value chains with the help of knowledge-based firms are among the Oil Ministry’s priorities in the current fiscal year (started March 21). 
Oil Minister Javad Owji made the statement at the inauguration of the 26th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran on Friday, the Oil Ministry’s news service Shana reported.
“The National Iranian Oil Company has concluded 50 agreements worth $1.7 billion with local companies over the last nine months with the aim of helping startups play a bigger role in Iran’s energy sector,” he said.
“The Oil Ministry is determined to complete 48 unfinished ventures at an estimated cost of $13 billion and launch 25 initiatives costing $30 billion by the [fiscal] yearend [March 20, 2023].”


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