Iran signed memorandums of understanding to increase natural gas production by 127 million cubic meters.

This initiative aims to achieve two main goals. The first is to sustain petrochemical production locally, as increasing production will contribute to filling the gas deficit during the winter. This ensures stable supplies to the petrochemical sector, and enhances Iran’s ability to meet its internal needs for these materials.

The second goal of the initiative is related to increasing Iranian gas exports. This increase in production makes it possible to export more gas to neighboring countries. Which enhances state revenues and contributes to diversifying sources of income.

This initiative represents an important step towards strengthening the role of the private sector in the energy sector in Iran. Iranian Oil Minister Javad Oji welcomed the active participation of local companies, stressing that "the road is open to the private sector."

The Iranian Minister of Oil expected a noticeable increase in oil and gas production during the current year, represented by an increase of 6 million tons in petrochemical production, an increase of 50 thousand barrels in the production of oil derivatives, and the possibility of increasing oil production by between 300 thousand and 400 thousand barrels, and an increase of 35 million meters. A cube of gas.

The signed memorandums of understanding represent an important step towards enhancing sustainability in the energy sector, increasing exports, and creating new job opportunities.

This step indicates Iran's commitment to developing its oil and gas sector, with an emphasis on relying on local resources and cooperation with the private sector.