The time has come for a new episode in the never-ending saga of the global struggle for crude oil. This time, the story takes place in Iran.
Thus, the Sepehr and Jufair oil fields located in the oil-rich southwestern Khuzestan Province, the region of dusty winds and scorching sun, have recently been put into operation, marking a glorious event in the world oil market.
According to Oil Minister Javad Owji, these two fields are capable of producing an average of 74,000 barrels per day, thus adding to Iran’s daily oil output capacity.
The inauguration ceremony devoted to their official launch was a significant part of Iranian President Ebrahim Raisi’s visit to Khuzestan. It showcased the importance of the project with an astronomical $2.8 billion in investment, being heralded as an important milestone in the history of the country’s oil industry.
This project signifies a crucial step in Iran's exploration and production endeavors despite ongoing challenges, including international sanctions that have hampered its oil and gas industry. The inauguration of the new oil fields underscores the country’s efforts to strengthen its position in the global hydrocarbon market.
That way, Iran is opening up new horizons and creating opportunities not only for its energy sector but also for other domestic industries.
