Iran’s Oil Sector Ready To Work With Any Foreign Volunteer Company

Tehran, May 11, IRNA – Iran’s oil industry is ready to cooperate with any volunteer foreign company that possesses necessary capabilities to work in Iran, Oil Minister Bijan Namdar Zanganeh announced on Sunday. Speaking exclusively to IRNA, the minister made the remarks while commenting on the latest reports on Iran’s oil deals with international and European companies. Rejecting some reports that Iran is to end its cooperation with the Chinese companies currently active in some projects in the South Pars oil fields, Zanganeh said Tehran has made no decision to that end. “We are not to expel Chinese companies from Iran’s oil industry. Chinese and any other companies can sign contracts in any sectors of the oil industry based on their will and capabilities,” said the minister. As for Iran’s gasoline production, Zanganeh said the country is to increase its current 1.8 million bpd production to three million bpd in future. He added that Iran will become self-sufficient in producing gasoline once the Setareh Khalij-e Fars (Persian Gulf Star) refinery becomes operational. The refinery is under construction with an estimated budget of 1.7b euros. Located in the southern port city of Bandar Abbas, in Hormuzgan Province about 1,320 kilometers south of Tehran, the refinery is aimed at daily refining 360,000 barrels of gas condensates coming from Assaluyeh to produce gasoline, jet fuel and other products./end