IOOC takes action to improve offshore oil production

Management at Iranian Offshore Oil Company (IOOC) is planning a series of reconstruction and renovation measures for the company that will cost $3 billion, according to news service reports.

Sep 21st, 2016

Offshore staff

TEHRAN, Iran –Management at Iranian Offshore Oil Co. (IOOC) is planning a series of reconstruction and renovation measures for the company that will cost $3 billion, according to news service reports.

Managing director Hamid Bovard said parent company National Iranian Oil Co. was providing some of the necessary financial assistance.

Over the past month,IOOC has added 8,000 b/d to its crude production capacity, which should climb to between 30,000 and 50,000 b/d.

Currently the company operates 195 platforms and around 60 storage tanks.

IOOC, based in Tehran, operates in southern Iran, mainly in Bushehr Province and on Kharg Island, Sirri Island, and Lavan Island.

9/21/2016

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