Most Of Iran's Oil Output Can Be Restored Within A Month After Lifting Sanctions - NIOC

Most of Iran's oil production can be restored within a month after lifting sanctions, with the full restoration of oil output possible within three months, Farrokh Alikhani, the deputy director of production at the National Iranian Oil Company (NIOC), said in an interview with the Iranian Oil Ministry's official news agency Shana published on Wednesday

MOSCOW (UrduPoint News / Sputnik - 09th June, 2021) Most of Iran's oil production can be restored within a month after lifting sanctions, with the full restoration of oil output possible within three months, Farrokh Alikhani, the deputy director of production at the National Iranian Oil Company (NIOC), said in an interview with the Iranian Oil Ministry's official news agency Shana published on Wednesday.

President Hassan Rouhani said during a televised cabinet meeting in May that Western leaders expressed readiness during nuclear talks in Vienna to lift main sanctions from Iran, including on the oil and petrochemical industry.

"Precise planning has been done to restore oil production to the pre-sanctions levels in one-week, one-month and three-month intervals, and if the sanctions are lifted, most of the country's oil production will be revived within a month," Alikhani said.

The official added that the company's approach had always been to be fully prepared to restore production in the shortest possible time whenever maximum oil production is demanded.

"Our plan is not limited to restoring previous production capacity, and in the second step, we plan to increase oil production capacity even further," he added.

Iran's oil industry suffered heavy losses in 2018 as then-US President Donald Trump pulled the United States out of a nuclear deal with Tehran and tightened economic sanctions on Iran.