Oil Ministry announces priorities

September 18, 2017

TEHRAN – Developing joint oil and gas fields while paying especial attention to environmental protection are among the main priorities of the Iranian Oil Ministry for the next four years.

President Hassan Rouhani in a decree on Monday outlined the Oil Ministry’s priorities which also puts other issues into spotlight, Tasnim reported.

Taking advantage of young and skilled workforce, boosting cooperation with the private sector and attracting more foreign investment especially for petrochemical projects, and reducing gas flaring have been put atop agenda.

Completion of loading and export facilities in the port city of Jask in the southern Hormozgan Province was another priority for the ministry.

Jask Oil Terminal will have the capacity of storing up to 30 million barrels and exporting 1 million barrels per day of crude oil once completed. 

In August, Oil Minister Bijan Namdar Zanganeh put attraction of investment for development of Iran’s shared oil and gas fields as the main priority of the ministry.

Completing development phases of South Pars (the huge gas field Iran shares with Qatar in the Persian Gulf), rebuilding and renovating oil installations, second leap in the petrochemical output, and no natural gas flaring were his next top priorities.

EF/MA
 

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