Iranian oil export to increase by 50,000 bpd (UPDATE)
Azerbaijan, Baku, Sept. 2 / Trend /
The details were added (the first version posted at 12:52)
Iranian oil export will increase by 50,000 barrels per day by the end of current solar year (started on March 21, 2011) , IRNA reported quoting National Iranian Oil Company Managing Director Ahmad Ghalebani as saying.
"Iran's oil production would increase by 40,000 - 50,000 barrels per day by operation of some oil wells at Yadavaran and Azadeghan fields ahead of schedule," he said. "Meanwhile, oil production has increased at Masjed Soleyman oil field."
According to OPEC annual report, Iran's oil production has decreased from 4.2 to 3.5 million barrels per day since 2005, but Iran rejects OPEC's report saying that country's oil production is over 4 million barrels per day.
According to the Fifth Development Plan (2010-2015), Iran should increase oil production by 1 million bpd.
Most of Iran's oil wells are in their second half-life. To preserve the current production level, Iran should repair the oil wells, inject into the wells up to 280 million cubic meters of gas per day, and install pumps.
Iran is injecting 60-80 mcm of gas to old oil wells.
Currently 30 oil fields in Khozestan province need gas injection, although gas is being injected into ten oil fields. Meanwhile, a shortage of pumps for wells which Tehran has faced due to international sanctions, which include these devices, in fact has cut country's oil production.