Tehran (IP) - Iranian Oil Minister says the country has won the first rank in the field of flare gas collection.

Iran PressIran news: Iran's Oil Minister Javad Owji, on the sidelines of the cabinet session, told Iran Press that the growth of natural gas production among gas exporting countries was 2.5%, and given the sanctions, Iran's production has grown by 5%.

Owji also referred to the transnational engineering services and said the technical engineering services have been exported to Europe and America and the Iranian companies got good ratings in this field.

Giving the 2024 GECF award to Iran's Oil Industry Research Institute for the collection of flare gases was discussed in Algerian where the Iranian Minister of Oil, Javad Owji, and the Secretary General of the Assembly of Gas Exporting Countries (GECF), Mohammad Hamel held a meeting on Saturday. 

The Secretary General of GECF appreciated Iran's innovation and research efforts in the gas industry. 

Iran’s infrastructure for gas transit via North-South, East-West corridors ready

Javad Owji went on to add that Iran’s infrastructure for transiting gas from the North-South and East-West corridors is ready.

The minister pointed to the GECF Award for Long-Term Commitment to Natural Gas in 2024 given to Iran for doing unique research into flare gas collection and putting the research into practice on the sidelines of the 7th Gas Exporting Countries Forum Summit of Heads of State and Government in Algiers, the capital of Algeria, on Friday.

The average annual increase in Iran’s gas production in recent years was over two times the average rise in the global output despite brutal sanctions imposed on the country, said Owji, explaining Iran registered a 5.2 percent rise while the global increase stood at 2.5 percent.

Iran was selected as the host for the 26th Ministerial Meeting of the Gas Exporting Countries Forum in October 2024 in the Extraordinary Ministerial Meeting of the 7th GECF Summit, during which “we unveiled the format of our new gas contracts” and introduced Iran’s capabilities in upstream and downstream sectors of the oil and gas industry, he continued.

The development of Iran’s gas fields through attracting foreign investment was also discussed during the meeting, said Owji, adding the Oil Ministry has attracted the highest amount of foreign capital in the current Iranian calendar year (starting March 21, 2023) when compared to other ministries.


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