Knowledge-Based Companies to Help Increase Oil Output

Knowledge-based companies will help enhance the production of 700 oil and gas wells in Iran, the oil minister said.
“Using the capabilities of knowledge-based companies, we will be able to increase the annual production capacity to more than 80 million barrels of oil,” Oil Ministry’s news agency Shana also quoted Javad Owji as saying.
According to the minister, there are more than 5,500 oil and gas wells in 400 oil and gas fields of the country and by using the expertise and new technologies of knowledge-based companies, it is possible to create jobs and income, especially in underprivileged regions. 
Speaking about the petroleum exports, Owji said, “About 50% of our exports are unprocessed or semi-processed products, which is not good for the country, so the use of knowledge-based companies in this field in addition to generating value added, can create employment and revenues for the country.”
Iran is determined to increase its oil and other petroleum products exports, despite sanctions imposed by the United States on Tehran's crude sales.
Oil exports, Iran’s main revenue source, have plunged under US sanctions, which were reimposed three years ago after Washington abandoned Tehran's 2015 nuclear deal with six powers.
Tehran does not disclose its crude export data, but assessments based on shipping and other sources suggest a fall from about 2.8 million barrels per day (bpd) in 2018 to as low as 200,000 bpd. However, unofficial reports say exports reached 1 million bpd last month.