Contracts worth $13.6b for development of oil, gas fields kick off

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Contracts valued at $13.6 billion have been ratified to develop oil and gas fields in Iran, expected to increase daily production capacity by over 600,000 barrels of oil and 30 million cubic meters of gas. The National Iranian Oil Company announced the start of these projects under the 14th government.

TEHRAN- The Director of Engineering and Development of the National Iranian Oil Company announced the ratification and start of executive operations of five oil and gas field development contracts worth $13.6 billion in the 14th government, and said: With the implementation of these contracts, daily production capacity will increase by more than 600,000 barrels of oil and 30 million cubic meters of gas.