At the first meeting of the Economic Council in 1404, a report on the challenges and solutions for improving the implementation of upstream oil and gas projects to encourage domestic and foreign investors was discussed, reviewed, and decisions were made.
According to Ashura News, citing Mehr News Agency, in the first meeting of the Economic Council in 1404, a report on the performance of the approvals and how to resolve the executive challenges of this council over the past years regarding the development of joint oil and gas fields in the south and west of the country, the progress of the plan to increase crude oil production by 250,000 barrels per day in the 14th government, as well as a report on the challenges and solutions for improving the implementation of upstream plans in the oil and gas sector to encourage domestic and foreign investors were discussed, reviewed, and decisions were made.
In this meeting, Mohammad Reza Aref, First Vice President, referred to the openings created in the development of relations and foreign policy of the 14th government, as well as the plan to increase crude oil production and exports, including the plan to increase crude oil production by 250,000 barrels per day, and emphasized: The challenges and obstacles to investment in the energy sector, as one of the most important production sectors in the country, should be reviewed as soon as possible and presented to the Economic Council and the government to remove the obstacles.
Also, in this meeting, which was attended by the heads of the Planning and Budget Organization and the Central Bank, the Minister of Agricultural Jihad, the Secretary of the Government Board, the Acting Minister of Economic Affairs and Finance, the Vice President for Science, Technology and Knowledge-Based Economy, the government spokesperson, and officials of the relevant agencies, the performance of the Economic Council's approvals in 14 production plans from the joint oil and gas fields in the south and west of the country, the level of physical progress and net investment made, were reviewed. It was decided that the implementation challenges of these integrated development plans for the joint hydrocarbon fields in the south and west of the country would be reviewed with the Economic Council Secretariat as the focal point, and solutions to address them would be presented in future meetings of the council.
The most important measures taken were the plan to increase crude oil production by 250,000 barrels per day with an investment of $3 billion and a forecast of generating $18 billion in revenue by 1408, and the challenges and executive proposals in developing oil and gas fields to achieve this level of oil production per day were reviewed and decisions were made.
The Planning and Budget Organization also presented a report on the challenges and solutions for improving the implementation of upstream oil and gas projects to encourage domestic and foreign investors, including the status of development projects so far, a comparison of the governance system for upstream oil and gas contracts, and the challenges and solutions of the upstream oil and gas industry for the private sector to enter these sectors. According to this report, a package to facilitate and accelerate the conclusion and implementation of upstream oil and gas contracts, including facilities and incentives, as well as accelerating processes, was reviewed and approved in this meeting of the Economic Council.
Amending the schedule for receiving and repaying foreign financial facilities for the projects to equip the Parudeh 4 coal mine in Tabas and the establishment of a wastewater facility in western Ahvaz were among other approvals of this meeting of the Economic Council.
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