Rouhani inaugurates production at new oil fields
Officially inaugurating production at three new oil fields, Iran’s president announced that the country is seeking to attract foreign investors to increase its oil output and benefit from the lifting of international sanctions.
On Nov. 14, the official opening of three new oil fields in the oil-rich southwestern Khuzestan province received mixed coverage in Iranian media. While Reformists hailed the boost in oil production in the post-sanctions era, conservatives focused on President Hassan Rouhani’s speech regarding youth unemployment.
On Nov. 13, Rouhani officially inaugurated the first phases of the Yadavaran and North Azadegan fields as well as the North Yaran field, which are shared with Iraq. These oil fields provide a total production of more than 220,000 barrels per day.
The move came after the Nov. 8 preliminary $4.8 billion agreement between the National Iranian Oil Company and a consortium led by France's Total to further develop phase 11 of Iran’s giant South Pars natural gas field. Total is the first Western energy company to sign a major deal with Tehran since the lifting of nuclear-related sanctions in January.
At a ceremony to formally open the new fields, Rouhani stressed that the inauguration is a result of the July 14, 2015, Joint Comprehensive Plan of Action (JCPOA). “The JCPOA means a new space, a new air. This means that trapdoors have been opened and fresh air has entered,” Rouhani said. “Now people will benefit from the new opportunities. The oil industry has used these opportunities in the best way it could.”
