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Iran to Increase Oil Production - Oil Minister Tells Khuzestan TV

Posted on: Tuesday, 14 March 2006, 12:00 CST

Text of report by Vision of the Islamic Republic of Iran Khuzestan Provincial TV on 14 March

[Presenter] Oil Minister [Seyyed Kazem Vaziri-Hamaneh] who is visiting Ahvaz [the capital city of Khuzestan Province] has said that foreign companies have announced their readiness to take part in the development of the country's oilfields. He also stressed the importance of utilizing the country's oil resources.

[Correspondent] Visiting oil facilities in the oil-rich southern areas of the country, the oil minister said: Apart from focusing its efforts on the production of oil, the Oil Ministry has given priority to boosting oil recovery.

Vaziri-Hameneh said one of the most basic needs of the country's oil industry was to increase oil recovery, and said: Apart from injecting gas to oil wells, we should also use modern recovery methods.

He said foreign companies have announced their readiness to participate in the development of the country's oilfields including Azadegan and Yadavaran.

[Oil Minister Vaziri-Hamaneh] The Azadegan and Yadavaran are among the oilfields on the development of which we have either signed contracts with foreign companies or are currently negotiating to do that. There are also a number of oilfields, the development of which has been handed over to departments in charge of oil-rich zones, central or offshore regions.

[Correspondent] Would the current level of production increase, and if yes, to what level?

[Vaziri-Hamaneh] Currently we are producing just over 4m barrels per day. We are planning to increase production to over 5m barrels per day by the end of the Fourth Development Plan [2010].

[Correspondent] Also speaking at a meeting of managers from southern oil-rich areas, the oil minister pointed to the age of the oil facilities, and said: Modernization of installations and pipelines is among the Oil Ministry's priorities and the ministry is studying a plan in this respect.

Also speaking at a gathering of the managers of National Iranian Drilling Company, the oil minister said among the capabilities of the National Iranian Drilling Company were the drilling of 2,200 oil wells and achieving a drilling level of 4,800,000 metres. He said the Iranian drilling company has paved the way for participating in international markets.

[Video shows: the minister inspecting oil facilities, managers briefing the minister, various shots of oil installations. A pan across shows the general area and a long shot shows more of the facilities, the minister speaking with a correspondent of Khuzestan TV. A National Iranian Drilling Company board is shown on which "Rig. Pirouz-1" can be seen written in English, the delegation coming down some steps and more shots of the facilities and the interview and meetings.]

Source: BBC Monitoring Middle East

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