The announcement was made by NIOC Chief Ahmad Qalebani. He added production and export of crude hit the highest level in view of value last year adding all oil industry indexes were satisfactory including productivity, investment and production.
He noted that last year's upstream sector's investments hit 22.6 billion dollars, far beyond the investments made a year earlier which was 16.7 billion dollars.
Thanks to Islamic Revolution and its resulting self-esteem, Iran's oil industry has attained satisfactory capabilities in production and development of oil and gas fields, Qalebani noted.
He further said that the country's oil industry was passing the development path by reliance on domestic capabilities and rising concentration on domestic capabilities and usage of internal potentials will blunt more and more the impact of sanctions and restrictions against the country.
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The Islamic Republic of Iran's annual oil revenues hit 110 billion dollars during the last Iranian calendar year, ended 20 March 2012, an unprecedented figure since the establishment of the National Iranian Oil Company (NIOC).
News ID 184160
