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FA Monday, April 19, 2021
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The Non-State Oil Industry Research and Technology Fund has signed two contracts for guaranteed purchases and two contracts for venture capital.
The CEO of the National Iranian Oil Company (NIOC) said the company has plans to collect associated petroleum gas (APG) by 1.6 billion cubic feet per day in the operational areas of Khuzestan and Ilam provinces.
The three-phase oil separator tank has been localized by the Iranian Central Oil Fields Company.
Oil sanctions against Iran remain effective. But the country says it would export 2.3 mb/d of oil and condensate this year. Many experts believe that Iran’s return to the oil market is unlikely to cause any shock.
Iran invested over $1.4 billion in the jointly-owned Azar oil field despite US sanctions.
Iranian President Hassan Rouhani signed off on commissioning Azar oil field development project with a daily production capacity of 65,000 barrels of crude oil.
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