Tehran, Iran, February 18
By Mehdi Sepahvand –- Trend:
Iran’s oil output is set to hit 4 mbpd by April, the country’s Deputy Oil Minister Ali Kardor said.
According to the 6th Development Plan (2017-2022), Iran should reach an output of 4.7 mbpd, Kardor said, Mehr news agency reported February 18.
He added that according to the same plan, Iran should reach a gas output of 1.3 billion cubic feet per day.
“For such plans to be realized, 500 wells should be drilled…. Right now 143 drilling rigs are active in the country. But they will be out of service if investment is not made.”
However, the deputy minister said, wrong financial policies have created $50 billion debt owed by the National Iranian Oil Company.
Iran’s oil export last year grew from 1 mbpd under sanctions to 2.5 mbpd.