Speaking to reporters on the sidelines at Wednesday’s cabinet session, Paknejad announced that around $700 million in new annual revenue will be generated following a major gas collection project launched in southern Ilam last week.
The project, which has an investment of $1.6 billion, is part of the Oil Department’s comprehensive plan to eliminate related gas flares within three years, he said.
The Minister added that completion of the MGL-3200 project in the Western Karung region and Fuzestan province is also underway.
Paknejad has expressed its hope that within three years, it can collect 44.5 million cubic meters of related gas per day.
In addition to reducing pollution and preventing waste from resources, these measures are important steps to increase productivity in the oil industry and achieving the country’s economic goals, he said.
MNA