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Iran boosts crude oil output in Persian Gulf

Business Materials 2 April 2012 18:07 (UTC +04:00)

Azerbaijan, Baku, Apr. 2/ Trend F.Milad/

Iran has increased crude oil output in the Persian Gulf's Reshadat oilfield by 10,000 barrels per day, an official with the Iranian Offshore Oil Company Abbas Rajabkhani said, Mehr reported.

Rajabkhani said that early production during the first days of the new Iranian year, which began on March 20, led to 10,000 barrels of output at the Reshadat oilfield.

The output will be increased to more than double by the end of the first calendar month of Farvardin (April 19), he said.

Reshadat oilfield is located 110 kilometers southwest of Lavan Island. Once all the phases of the field become operational by 2012, some 75,000 barrels would be added to Iran's total daily oil production.

The National Iranian Oil Company's Managing Director Ahmad Qalebani announced that in September 2011 that more than 60 percent of the necessary equipment for the oil industry is produced domestically and that the percentage will reach 90 within the next three years.

Iran has the world's second largest crude oil reserves after Saudi Arabia and the second largest gas reserves after Russia.

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