(MENAFN) Iran is set to sign contracts aimed at increasing its gas production capacity before the end of the current Iranian calendar year, which concludes in late March 2025, according to Oil Minister Mohsen Paknejad. Speaking at the Gas Exporting Countries Forum (GECF) Ministerial Meeting, Paknejad revealed that the agreements, once implemented, will significantly boost the country’s gas production capabilities. Some contracts will be executed by the end of this year, while others will begin next year, with both domestic and international resources being utilized for these deals.

Paknejad highlighted the substantial financial value of these contracts and outlined specific funding plans. He assured that, under the agreements, Iran’s gas production will rise according to a set timeline. The projects include efforts to boost gas pressure, which are integral to the agreements. Addressing concerns about the impact of sanctions on Iran’s oil and gas industry, Paknejad emphasized that the country’s oil industry experts have already developed effective solutions to counter the restrictions, reassuring the public that they need not worry.

The minister underscored that Iran has strategically adapted to the increasing complexity of sanctions. Despite the ongoing pressure on Iran’s energy sector, he affirmed that the country has not surrendered to these challenges. Paknejad concluded by stating that, as sanctions have become more sophisticated, Iran's solutions for neutralizing them have also become more advanced and effective.

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