Hamid Bord announced the determination of projects for the collection of associated gas from oil during the eighty-fourth coordination meeting of government information bodies hosted by the Ministry of Oil. Bord, referring to his over 35 years of experience in the oil industry, evaluated the performance of this industry positively despite challenges and limitations.
Positive Performance of the Ministry of Oil in Production and Sales
He discussed the performance of the Ministry of Oil in the Fourteenth Government in three areas: production, development, and sales, stating that in all various production indicators, significant achievements have been made compared to the past 7 to 8 years and in some cases even earlier periods. In particular, the production of oil and petroleum products, including gasoline and diesel, has increased, and a record gas production has also been registered.
Read more: Brent oil price drops to $109 per barrel
The caretaker of the Ministry of Oil emphasized that despite the limitations, the implementation of developmental projects has not been halted, and large contracts worth about $30 billion have been signed in various sectors of the oil industry. Additionally, the process of signing upstream contracts has been significantly expedited, reducing to about 6 months.
Collection of Associated Gas and Flaring
Bord discussed the performance of the Fourteenth Government in collecting associated gas and flaring, stating that significant actions have been taken in this area, and the President follows the progress of the projects weekly. Today, all associated gas and flaring have been determined, and this issue is considered one of the achievements of the Fourteenth Government in managing associated gas.
He also added that the volume of collected associated gas in this government has significantly increased and has returned to the production cycle. With the planned actions, this initiative can help improve oil production and exports.
In conclusion, Bord emphasized the need for energy consumption management and public cooperation, stating that a saving of about 10% in fuel consumption can solve the upcoming challenges. Furthermore, the Ministry of Oil is striving to improve the situation of the country's oil industry by reconstructing damaged facilities and increasing production capacity.
Read more: Oil price drops to $110 following Iran-Qatar negotiations · Foiling of the attack plan on Homs oil refinery
