ID :
192683
Mon, 07/04/2011 - 10:13
Auther :
Shortlink :
https://oananews.org//node/192683
The shortlink copeid
Iran Boosting Oil, Gas Output despite Sanctions
TEHRAN (FNA)- A senior Iranian oil ministry official said despite the various sanctions imposed by the western states against Iran, the country's oil and gas production has undergone a huge increase in recent years.
"Iran's oil and gas output has risen considerably in recent years, despite the Western sanctions," National Iranian Gas Company (NIGC) Managing-Director Javad Oji said on Sunday.
He mentioned that Iran's current daily gas output is 600 million cubic meters, which will be doubled to 1.2 billion cubic meters in the coming years.
Oji stated that despite the harsh sanctions imposed on the Iranian oil sector, Iran is now self-sufficient in the oil industry and capable of domestically manufacturing any equipment needed by the oil industry.
Iran, which sits on the world's second largest reserves of both oil and gas, is facing US sanctions over its civilian nuclear program.
Iranian officials have dismissed US sanctions as inefficient, saying that they are finding Asian partners instead. Several Chinese and other Asian firms are negotiating or signing up to oil and gas deals.
Following US pressures on companies to stop business with Tehran, many western companies decided to do a balancing act. They tried to maintain their presence in Iran, which is rich in oil and gas, but not getting into big deals that could endanger their interests in the US.
Yet, after oil giants in the West witnessed that their absence in big deals has provided Chinese, Indian and Russian companies with excellent opportunities to sign up to an increasing number of energy projects and earn billions of dollars, they started showing increasing interest to invest or expand work in Iran.
"Iran's oil and gas output has risen considerably in recent years, despite the Western sanctions," National Iranian Gas Company (NIGC) Managing-Director Javad Oji said on Sunday.
He mentioned that Iran's current daily gas output is 600 million cubic meters, which will be doubled to 1.2 billion cubic meters in the coming years.
Oji stated that despite the harsh sanctions imposed on the Iranian oil sector, Iran is now self-sufficient in the oil industry and capable of domestically manufacturing any equipment needed by the oil industry.
Iran, which sits on the world's second largest reserves of both oil and gas, is facing US sanctions over its civilian nuclear program.
Iranian officials have dismissed US sanctions as inefficient, saying that they are finding Asian partners instead. Several Chinese and other Asian firms are negotiating or signing up to oil and gas deals.
Following US pressures on companies to stop business with Tehran, many western companies decided to do a balancing act. They tried to maintain their presence in Iran, which is rich in oil and gas, but not getting into big deals that could endanger their interests in the US.
Yet, after oil giants in the West witnessed that their absence in big deals has provided Chinese, Indian and Russian companies with excellent opportunities to sign up to an increasing number of energy projects and earn billions of dollars, they started showing increasing interest to invest or expand work in Iran.
