Speaking at the inaugural ceremony of the International Iran Productivity and Consumption Optimization Exhibition and Conference on Monday, Javad Owji emphasized called the oil industry one of the most important industries in the country.
The Oil Ministry is tasked with providing energy security, he said, adding that 95 percent of the country’s energy comes from oil.
Turning to oil production in Iran, he said over 3 million barrels of oil per day are produced in the country.
Owji put the gas production in the country at 1 billion cubic meters per day.
He further said $15 billion worth of semi-finished oil projects were completed and launched last year (ended March 20, 2023), adding that that $12 billion worth of semi-finished oil projects will be put into operation by the yearend (March 20, 2024) which will considerably increase production of oil, gas and oil byproducts.
Once optimization of oil and gas consumption is done effectively, a large portion of the country’s energy imbalance will be compensated, Owji went on to say.