BAKU, Azerbaijan, Jan. 31
By Elnur Baghishov – Trend:
The US sanctions against Iran, as well as Iran's obligations to reduce oil extraction did not have a negative impact on oil wells in the territory of the Iranian Central Oil Fields Company, Executive Director of the Iranian Central Oil Fields Company (ICOFC) Ramin Hatami told journalits, Trend reports citing IRNA.
The director emphasized that the ICOFC has increased oil extraction from joint fields with neighboring countries by 37 percent despite the spread of the coronavirus pandemic in the current Iranian year (March 20, 2020).
Hatami added that the company has the potential to increase extraction to 95 percent in two weeks.
"The company has fulfilled its plan by 98 percent in the gas sector. This winter, 249 million cubic meters of gas per day were added to the Iranian gas network," he said.
The Iranian Central Oil Fields Company extracts oil and gas from 28 fields. The company extracted 55.8 million barrels of oil and 89.8 billion cubic meters of gas in 16 months (from March 21, 2019, to July 21, 2020).
The US imposed new sanctions on Iran in November 2018. Over the past period, the sanctions affected Iranian oil exports, more than 700 banks, companies, and individuals.