BAKU, Azerbaijan, April 30. A memorandum of understanding worth $6.4 billion was signed in Tehran to increase Iran's gas production by 127 million cubic meters per day, Trend reports.
The event organized in Tehran in connection with the signing of the MoU was attended by Iranian Oil Minister Javad Owji, Deputy Oil Minister and Executive Director of the National Oil Company Mohsun Khojastmehr, Deputy Oil Minister and Executive Director of the National Oil Company Morteza Shahmirzaei, and other officials.
Based on a memorandum of understanding signed by Iran's National Oil Company with local companies, research will be conducted to develop 16 gas fields in the country's south, southwest, and Persian Gulf.
To note, Iran is considered the world's second-largest gas reserve country, with gas reserves of about 34 trillion cubic meters. Presently, 22 gas fields are operating in Iran. Iran produces 1.07 billion cubic meters of rich gas daily from its gas fields.
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