Iran Signs Deals With Local Firms To Boost Oil Production Capacity

Iran signed on Monday a total of 13 oil contracts with 14 domestic firms, which will raise the Islamic Republic’s oil production capacity by 185,000 barrels per day, the oil ministry’s news service Shana reported. According to Reza Dehghan, Deputy Director for Development and Engineering Affairs at National Iranian Oil Company (NIOC), the new contracts will enhance and maintain oil production in Iran, the Iranian Students’ News Agency (ISNA) reported. The 13 deals are worth a total of US$1.78 billion (1.527 billion euro), and…