Oil Min.: Project For Development Of 23 Joint Fields Launched

Lavan, Hormuzgan Prov., June 26, IRNA – Oil Minister Rostam Ghassemi said on Tuesday that his ministry gives top priority to development of joint oil and gas fields. Speaking to a group of officials in a ceremony marking the inauguration of 14 projects in Lavan Island refinery in Hormuzgan Province, Ghassemi said the project for development of 23 joint oil fields has started. He said once the projects are fully implemented, one million liters will be added to the countryˈs oil production capacity. He added that the development projects have started in majority of jointl fields in the Persian Gulf and by March 20 Reshadat joint field will yield up to 70,000 barrels of oil. The Minister said among other axes of his ministryˈs activity is quality promotion of products which has helped remove environment problems in metropolitan cities and towns. Ghassemi said Euro 4 gasoline is currently used in Tehran and regarding quality promotion of the product, it would be distributed in all Iranian cities soon. He said gasoline imports was a basic problem for the country until last year with 10 billion dollars being spent annually for the purpose but now Iran has become self sufficient and is expected to turn into one of the major exporters of gasoline in the future once development of Persian Gulf Refinery of Bandar Abbas is complete. The oil minister said feasibility studies to turn Lavan into the second petrochemical hub of the country are over and Iranian companies have started working on the project./end