Mohsen Khojastehmehr, CEO of NIOC, remarked on this significant
economic milestone during the signing ceremony of agreements to study the
development of 16 gas fields in collaboration with holdings, petrochemical
companies, and domestic exploration and production firms.
"We are witnessing one of the crucial economic events in the oil
industry with people's participation today. Direct and indirect investments are
essential for achieving production goals, a foundation laid in the thirteenth
government," Khojastehmehr stated.
He highlighted the innovative initiative that facilitated the
involvement of petrochemicals in the upstream sector, previously restricted to
exploration and production companies.
"Previously, only exploration and production companies could
invest in the oil industry. However, with the ingenuity of the Petroleum
Minister and necessary coordination with the government, petrochemicals can now
engage in upstream activities," he explained.
Reflecting on past successes, Khojastehmehr mentioned the
groundbreaking $13 billion contract resulting from banking investments in the
oil industry, particularly in the development of shared gas fields.
"With the finalization and implementation of today's agreements,
over 16 gas reservoirs in the country will undergo development. These projects
will add 127 million cubic meters to the country's gas production capacity in
four provinces: Khuzestan, Fars, Bushehr, and Kohgiluyeh and Boyer-Ahmad,"
he elaborated.
Khojastehmehr also praised the ongoing collaboration between the
private sector and petrochemical holdings, labeling the current year as
witnessing a second surge in petrochemical investments. He emphasized the
strategic significance of these investments, which offer attractive,
high-yield, and revenue-generating contracts.
Describing the investments as a win-win scenario for both the NIOC and
petrochemical investors, Khojastehmehr emphasized the substantial role of the
Iranian populace as shareholders in both small and large petrochemical
enterprises.