Oil Ministry to sign gas output expansion contracts by yearend

Oil Ministry to sign gas output expansion contracts by year-end

TEHRAN – Iran will soon sign contracts to increase gas production capacity before the end of the current Iranian calendar year (late March 2025), Oil Minister Mohsen Paknejad stated.

Speaking on the sidelines of the Gas Exporting Countries Forum (GECF) Ministerial Meeting, Paknejad told reporters that the agreements will significantly boost gas production capacity once implemented.

“Some contracts will be executed before the end of this year, and others will commence next year,” he said, noting that both domestic and international resources have been leveraged for these deals.

Paknejad emphasized the substantial financial value of the contracts, with clear plans for their funding. “Under these agreements, the country’s gas production will increase according to a specific timeline,” he added.

Highlighting gas pressure-boosting projects as part of the agreements, Paknejad addressed concerns about sanctions imposed on Iran’s oil and gas industry. “No matter how severe the restrictions become, Iran’s oil industry experts have already prepared solutions, and the people of Iran should not worry,” he said.

The minister stressed that strategies to counter sanctions have been carefully developed to match their complexities. “We have not surrendered to these sanctions,” he stated.

“Although sanctions have always targeted Iran’s energy sector, the more extensive and sophisticated they become, the more advanced and effective our solutions have become in neutralizing them,” Paknejad concluded.

EF/MA

source: tehrantimes.com