According to Khabaronline, an Iranian news agency, The contracts, signed on Thursday morning, will add 20 land-based drilling rigs to Iran’s oil rig capacity in the first phase and significantly boost the country’s crude oil upgrading capacity through the installation of rapid-deployment refining equipment.
The public-private partnership agreements are expected to increase Iran’s oil production by 315,000 barrels per day and create employment for over 11,500 local residents in oil-producing regions.
President Pezeshkian, in his remarks, praised the efforts of the Ministry of Oil in advancing the 14th government’s development goals in the oil and energy sector, particularly in attracting private investment. He emphasized that the government’s approach is to strengthen and support the role of the private sector in national development, and that government oversight mechanisms are solely for monitoring and promptly resolving any potential obstacles.
Pezeshkian stressed the need to shorten the process of contract formulation and implementation, stating: “The sooner these contracts are finalized, the more mutually beneficial they will be for investors, the people, and the government. The government is ready to remove any barriers, regulations, or bureaucratic hurdles that delay investment activities.”