National oil means being able to carry out big projects: Minister

Speaking at a signing ceremony for cumulative development of Sepehr and Jofeir oil fields, the minister said any decision on the amount or method of production must be taken in Tehran and not in London.

'The color of eyes and hair is not important and what really matters is experience,' Zangeneh said, hoping that Iranian companies would make use of more experienced personnel.

Under the contract for development of Sepehr and Jofeir, over 500 million barrels of oil would be produced in a 20-year span of time, the petroleum minister said.

Zangeneh said the Pasargad Energy Development Company which has successfully implemented a 1.8 billon dollar gas project in the past two years has good experiences in this field.

'W e will have over 100 oil and gas fields developed by Iranian firms through financing scheme. There are projects and work for all Iranian firms involved in exploration and production activities,' the minister said.

The contract for cumulative development of Sepehr and Jofeir oil fields seeks a daily production of 110,000 barrels and a total production of 512 million barrels in the next 20 years.
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