ICOFC Intends to Boost Gas Condensate Output

The state-owned Iranian Central Oil Fields Company plans to boost gas and gas condensate output in the current fiscal that ends in March 2019, as its subsidiaries have outperformed their targets. ICOFC has three subsidiaries, namely West Oil and Gas Production Company, East Oil and Gas Production Company and South Zagros Oil and Gas Production Company. According to SZOGPC's chief executive, Gholamhossein Montazeri, South Zagros produced 20.5 million barrels of gas condensate during the last fiscal year [ended March 20], ILNA reported.
"SZOGPC has also produced over 58 billion cubic meters of natural gas during the period, surpassing its daily production limit by 2.5 million cubic meters. The figure shows a 101% achievement of the goals," he added.
Montazeri noted that SZOGPC produced over 2.1 million barrels of crude oil in the previous fiscal.