National Iranian Oil Company (NIOC) says it is ready to absorb fresh investments in Iran"s oil projects, an NIOC official told a conference in Singapore.

Saeid Khoshrou said on Tuesday that Iran is currently exporting 2.2 million barrels per day of crude oil.

Speaking at the 33rd Annual Asia Pacific Petroleum Conference (APPEC 2017), Khoshrou, director of international affairs at National Iranian Oil Company, said Iran has been able to play an important role in supplying oil and petroleum products to the world over the past century.

The official said NIOC has defined dozens of projects up for grabs by international investors under various contract models.

He said NIOC"s commitment to its international customers is undeniable, however, he added, the company has not been able to fully perform in accordance with its potentialities because of the international sanctions on Tehran in recent years.

Despite massive oil and gas recovery from Iran"s underground reserves, the country still has huge untapped reserved to be explored and developed, he said.

Khoshrou further said that the crude recovered from West Karoon oilfields will be sent on international markets soon.

He said Iran is now producing 800,000 b/d of gas condensate, of which nearly 360,000 b/d is being consumed domestically.

The NIOC official named South Korea as Iran"s biggest condensate buyer, saying Japan and Persian Gulf littoral states also purchase the item from Iran.