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The National Iranian Oil Company (NIOC) managing director on Friday said the country, thanks to its present-day reserves, can produce oil and gas for the next 100 years.
Mohsen Khojastehmehr made the remarks in his speech during a ceremony to commemorate the 115th anniversary of Iran’s first oil exploration in Masjed Soleyman, the southwestern province of Khuzestan, the National Iranian South Oil Company (NISOC) reported.
NIOC has a 100-year vision for exploration, he said, underlining, “We are determined to carry out maximum exploration operations in order to discover and maintain the country’s reserves.”
According to SHANA, the news service of the oil ministry of Iran, Khojastehmehr said one of the reasons behind the enemy’s decision to impose sanctions on Iran is the country’s rich oil and gas deposits and its experts’ plan to prevent selling raw materials and complete the value chain.
Some part of the value chain should be formed in Masjed Soleyman, emphasized the NIOC CEO, saying the second stage of Masjed Soleyman field’s development plan is on the agenda but needs a thorough study.
