Iran completes 33 oil projects worth $12b in 2 years
Iranian Minister of Oil Javad Owji has announced that 33 unfinished oil projects have been completed with an investment of 12 billion dollars under the administration of President Ebrahim Raisi.
According to Owji, the projects were inaugurated since the beginning of the administration, and the ministry plans to inaugurate 67 other unfinished projects worth 15 billion dollars by the end of the current Iranian year (March 20, 2024).
Owji also stated that oil production in this administration has reached 3.3 million barrels per day (bpd), and the ministry aims to produce 3.4 million bpd by September 22, 2023.
The volume of oil production has increased by 1.3 million bpd since the beginning of President Ebrahim Raisi's administration on August 3, 2021, he noted.
Among the 33 inaugurated projects in the period, the two mega projects of Phase 2 of the Abadan Refinery with a capacity of 210k bpd, and Phase 14 of the South Pars Refinery with a capacity of 50 million bpd, the minister said.