Iran is stepping up oil and gas exploration in its sector of the Caspian Sea in an effort to diversify its national hydrocarbon production, the head of the NIOC said.
Farrokh Alikhani, acting head of the National Iranian Oil Company (NIOC) and deputy oil minister of the Islamic Republic, said the company and the ministry are preparing a new program to intensify exploration and production activities in Iran’s sector of the Caspian Sea.
"The focus is on developing an operational roadmap aimed at accelerating exploration efforts and expanding of oil and gas production in the Caspian Sea,”
– Farrokh Alikhani said.
The acting head of the NIOC clarified that the program will establish planned funding levels for exploration and production at potential Caspian oil and gas fields. It would also set out a list of the necessary equipment, specifying which items would need to be manufactured in Iran and which imported from other countries.
