IOOC Reconstruction Master Plan on Agenda

Bovard told a group of his personnel on Monday that the master plant has been put at the disposal of the government in the hope that it will be considered in the sixth national development plan.

He said reconstruction of his company’s facilities is expected to cost three billion dollars.

He added that thanks to the NIOC cooperation, the problem with the financial resources has been resolved to some extent and the IOOC will face less problems in the second half of this year.

He noted that within a short period of time, 30,000 to 50,000 bpd output is targeted in the short period of time.

He said in the past one month, about 8,000 crude was added to his company’s daily capacity and in the short term it will reach between 30,000 and 50,000 bpd.

The official said the company has 195 platforms and about 60 storage tanks.

He hoped that in the future contracts in the forms of EPCF, BOT, BOO and finance will be signed.

To the end of his remarks, Bovard said the IOOC oil is the symbol of Iran’s sovereignty in the Persian Gulf.

The Iranian Offshore Oil Company (IOOC) is a subsidiary of the National Iranian Oil Company. IOOC, an independent legal entity, is based in Tehran and operates in southern Iran. Its activities cover important areas of the Persian Gulf and its main operations are in Bushehr Province and on Kharg Island, Sirri Island and Lavan Island.