The Iranian oil industry has signed 13 contracts worth roughly EUR 1.5 billion with 14 local firms to enhance and maintain oil production, according to a press release.

The deals were signed on July 17  in Tehran between the Iranian Offshore Oil Company (IOOC) and the National Iranian South Oil Company (NISOC).

With the implementation of these contracts, it is expected that 185,000 barrels of oil per day (bbl/d) will be added to the country’s crude oil production capacity.

The contracts pertain to the provinces of Khuzestan, Fars, Kohgiluyeh and Boyer-Ahmad, Bushehr, and Hormozgan.