West Karoon key revenues source for Iran: CEO

SHANA – National Iranian Oil Company (NIOC) CEO Ali Kardor said the country generates a considerable portion of its oil revenues from the fields being operated in the West Karoon region.

Addressing a ceremony to farewell the former managing director of the Petroleum Engineering and Development Company (PEDEC) and welcome his successor on Sunday, Mr. Kardor underlined PEDEC’s role in developing oil and gas fields in the country, adding the company’s performance has been “defendable” over the years.

He said the crude oil recovered from West Karoon oilfields has generated at least 5 billion dollars for the country per year which was pretty eye-catching.

Iran can produce over 300,000 b/d of oil from the fields, Kardor added.

Last week, Mr. Kardor issued a decree replacing Nourredin Shahnazizadeh with Touraj Dehghani as the chairman of the board of directors and head of the Petroleum Engineering and Development Company (PEDEC).

Completing development projects in the West Karoon region, resolving contractual issues with developers and focusing on the development of the joint oil fields in the region are some of the tasks Kardor has Mr. Dehghani with through the decree.