NIOC (Tehran) _ While the value of oil is still low, Ghasemi said that there are still capacity to up the oil price. He continued, there is always a rocket increase in oil price in winters. And this also is true for this year; On the other hand, the oil price in the North Sea due to some technical difficulties has a 17 percent decline which could lead to an upcomin increase in the value of oil.
Considering the capacity of oil reserves of the country, Ghasemi pointed that 154 billion barrels of oil are recoverable per day, besides there are more than 600000 billion barrels of crude extracted already. Through employing the existed ways of extracting oil it is possible to have 154 billion barrels a day but once we add to new technologies the capacity of the extracted oil would be much more.
Regarding the agreement of Iran-Pakistan gas transfer pipeline, Ghasemi mentioned that Iran's agreement with Pakistan is decided to be on for the next 2 years. Also gas transfer pipeline called "Solh" which is due to be constructed right in the border of Pakistan, is in its final level. Pakistan starts its activities to construct a pipeline inside the country and Iran is about to help Pakistan financially for this pipeline to be ready up until 2014. He also revealed that Iran's invested about 250 million dollars in Pakistan.