New NIOC Chief Appointed

Oil Minister Javad Owji appointed Mohsen Khojastemehr as the managing director of the National Iranian Oil Company on Thursday.
With a PhD in petroleum engineering, Khojastemehr has held different management positions, including the head of Tadbir Drilling Company, a subsidiary of the Headquarters for the Execution of Imam Khomeini’s Order (tasked with implementing projects to help the underprivileged), IRNA reported.
He will now replace Masoud Karbasian who headed NIOC for four years during the second term of former president, Hassan Rouhani.
According to Owji, attracting foreign and domestic investments to develop joint oil and gas fields, boosting crude output to raise the production of value-added goods, fighting corruption and money laundering as well as supporting local startups, knowledge-based companies and manufacturers should be among NIOC’s chief concerns.
The minister noted that the implementation of development plans in shared hydrocarbon reserves requires massive investment and new schemes need to be devised, meaning the private sector and Chinese oil giants should be given a bigger role to help the key industry thrive.