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Managing-Director of National Iranian South Oil Company Ahmad Mohammadi said on Monday that the company’s production has increased by 30% in the second half of the past Iranian year (ended on March 19).
Speaking to IRNA, the official also predicted that the company’s production capacity will make another 10% growth over the new Iranian year.
He said that the company has plans to prevent the production decline by 10% on the one hand and produce some 10% more oil on the other hand which will add some 20% to the company’s production capacity by maintenance of exploration.
With the implementation of plans to increase and maintain production, some 300,000 bpd oil will be added to the production capacity of the company in total, Mohammadi said.
He said that the company is 100% ready to produce oil as much as it used to do before the imposition of sanctions, noting, “as soon as the sanctions are lifted, we will quickly increase production.”
