700 Projects Implemented by NISOC

700 Projects Implemented by NISOC700 Projects Implemented by NISOC

None of the development projects undertaken by the National Iranian South Oilfields Company has been stopped in the past year and the company has managed to make more than 700 projects operational, NISOC's CEO says.

Bijan Alipour then referred to a statement by Oil Minister Bijan Namdar Zanganeh on lengthy development processes and a rise in the projects' implementation costs, stressing that concurrent with boosting quality, these drawbacks must also be overcome, Shana reported.

"Despite financial shortcomings, NISOC has implemented over 700 oil projects and we have not had any disruption in production," he added.

NISOC is a government-owned corporation affiliated to the Oil Ministry and a subsidiary of National Iranian Oil Company.

It is Iran's biggest crude oil producer, which accounts for 83% of Iran's crude output and 16% of the country's natural gas production. It is in charge of onshore oilfields in southern Iran, including Azadegan, Yadavaran, Ahvaz, Gachsaran, Maroun and Aghajari, and focuses on onshore upstream activity in the province of Khuzestan.

Since March 2014, the company has completed significant projects in southern Iran such as two desalination factories in the cities of Lab Sefid and Masjed Soleyman in Khuzestan, a 24-inch oil pipeline between Ahvaz and Abadan as well as Mansouri Oilfield's exploitation and desalination unit with an oil processing capacity of 75,000 barrels a day, to name a few.

Earlier in October, Alipour told IRNA that NISOC plans to increase oil production by 600,000 barrels per day once sanctions are fully lifted.