Iran’s South Pars Refinery should come online soon, said Mohsen Khojastehmehr in a televised interview, who added that the country’s gas output capacity is anticipated to expand by 500 million cubic meters per day by 2029, of which 120 million cubic meters will be made possible by the development of the Kish gas field.

Referring to the achievements of the National Iranian Oil Company (NIOC), he added: “The maturity of the oil industry and NIOC started almost after the Islamic Revolution; 65% of the cumulative production of the country took place in the post-revolution era.”

He continued: “Now we have 400 oil and gas reservoirs and more than one billion cubic meters per day of gas output in the country, which is the result of the maturity and evolution of Iran’s oil industry after the revolution.”

Adding that expertise and management played a major rule in oil industry’s history even before the Revolution. Saying that: “Today, in the 44th year of the victory of the Islamic Revolution, the oil industry has gained independence and is capable in manufacturing, installation, startup, exploitation, production and commissioning projects.”

He added that the final refinery in South Pars, which received an investment of roughly $2.5 billion, would start operating soon.

“South Pars Phase 14 refinery is the most Iranian phase because 70% of its equipment is Iranian and with the completion of this refinery, 42 million cubic meters will be added to the gas refining capacity of the country,” he said.

According to the NIOC representative, the nation’s capacity to produce crude oil is anticipated to increase to 4.6 million barrels per day by 2027, of which 450,000 barrels per day will come from EOR and IOR projects. Additionally, he stated that by 2029, crude oil production capacity would reach 5.7 mmbbl/d, with 900,000 bbl/d coming from EOR and IOR developments.