Iranian Oil Minister Javad Oji says since the start of the current administration in Iran two years ago, 33 half-completed projects have been inaugurated using a $12 billion investment.
Oji added that the government’s aim is to make operational another 67 half-completed projects worth $15
billion by the end of the Persian year of 1402,(ending on March 19, 2024). According to the Iranian oil minister, oil production by this administration has now reached 3.3 million
barrels per day and efforts are underway to raise that figure to 3.4 million
barrels per day.
Oji noted that these figures show a 1.3 million barrels rise in oil output since President Ebrahim Raisi took office in August 2021.
Iran’s oil sector is under harsh US sanctions that were primarily meant to cut its oil production to zero.
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