Operator of the project for development of South Azadegan oil field Mahmoud Marashi says powerful companies can run the tender to develop second phase of a project for development of South Azadegan oil field.

A senior Iranian oil official says the price of crude oil at about $40 per barrel would be enough for foreign developers to make lucrative investments in Irans oil fields.

Deputy Head of the National Iranian Oil Company (NIOC) for Development and Engineering Affairs Gholam-Reza Manouchehri says 100 million cubic meters will be added to the countrys gas extraction capacity by March 20, marking end of the current Iranian calendar year of 1395.

Deputy Minister of Industry, Mine and Trade Mansoor Moazami says Iran is capable of building huge ships and oil tankers.

Managing Director of Pars Oil and Gas Company (POGC) Mohammad Meshkinfam says daily extraction of gas from South Pars gas field will reach 540 million cubic meters this calendar year (to end on March 20, 2017).

Deputy Iranian oil minister has announced that three tenders will be sought for construction of NGL projects.

Deputy Minister of Petroleum Ali Kardor said that National Iranian Oil Company (NIOC) has released its first tender announcement for verification of the qualifications of foreign bidders.

Minister of Petroleum Bijan Zanganeh says based on the secondary reports, Irans daily crude production stands at about four million barrels per day.

Minister of Petroleum Bijan Zanganeh says Irans gas condensate output will reach one million barrels per day by the next two years from 700,000 barrels per day this Iranian calendar year of 1395 (ended March 20, 2016)

The minister said that since phases 12, 15 and 16 and part of phases 17 and 18 are operational and the remaining part of phases 17, 18 and 19 (equal to two standard phases), as well as phases 20 and 21 will be operational, Irans gas extraction out of South Pars gas field will equal that of Qatar.