NIOC Will Spend $11 Billion on Gas Production

Iran has planned to increase gas production in its offshore fields. Under this plan, the national Iranian oil company will invest $ 11 billion to increase production. About 70 percent of the fuel work in Iran is done through these gases. Therefore, it is necessary to increase the production capacity. Along with this, Iran also supplies petroleum to other countries. However, Iran had to reduce its exports due to high consumption in its country and since Iran is one of the main sources of fuel. Iran has not been able to import oil due to the sanctions imposed by the USA. The economy of the country is also affected by the whale process.