TEHRAN (PIN) – National Iranian Central Oilfields Company managing director said NICOC would produce 400 thousand barrels of oil, 400 million cubic meters of gas, and 110 to 130 thousand barrels of gas condensates per day in 2016.

Alireza Zeighami told reporters, “From now on, the company lifts its daily output by 198 thousand barrels of oil, 135 million cubic meters of gas, and 40 thousand barrels of gas condensates.”
To this end, the company needed some seven billion dollars, said the official, adding, “In the first half of 20 year Outlook Plan, the number of gas and oil fields covered by the company will soar to 29 and 17 respectively while its oil and gas reserves will increase from 23 to 66 and provinces it renders services will rise to 12 from current nine.”
Within the period, the NICOC managing director said, 2,300 square kilometers would undergo three dimensional seismography and 2,530 square kilometers two dimensional seismography.
In 2011, the company would produce 320 thousand barrels of oil, 335 million cubic meters of gas, and 100 thousand barrels of gas condensates a day, he vowed.
Zeighami said NICOC’s gas output accounted for 65 percent of the country’s total production, adding the company was currently producing 255 million cubic meters of gas on average and its output capacity reached 300 million cubic meters in cold seasons.
The company had now the capacity to produce 145 thousand barrels of oil per day, said the managing director, vowing the figure would reach near 160 thousand barrels.
According to him, NICOC is now producing 75 thousand barrels of gas condensates daily.