According to PIN, NIOOC managing Director, Mahmoud Zirakchian-ZAdeh added the company"s in-place oil and gas resources volume had increased to 91 billion barrels and 173 trillion cubic feet respectively in 1386.

He continued the 1385 statistics showed NIOOC in-place resources had been 55bn barrels of oil and 120tn cf of gas.

NIOOC contracts were worth US$5bn over 1386, an increase of US$2bn compared to the year before, he pointed out.

The growth rate of investment observed by the company was 20 percent in 1386, compared to 1385, Zirakchian-ZAdeh continued adding that the company had been allocated 320 lcs considered as a remarkable rate.

He indicated the rate of water injected into the wells had increased to 364000 barrels last year, with a rise of 93000 barrels compared to 1385.

"Our first priorities are to develop Reshadat, Resalat, Hendijan, Hengam and Forouzan fields," NIOOC Managing Director saying "We left a record on the rate of gas and water production and injection last year which was a 50-year record."

Commissioning of Siri and Lavan Terminals during the past months, he continued, the number of terminals had reached eight.