Iran to increase oil production by 800,000 bpd
Azerbaijan, Baku, Sept. 14 /Trend/
Iran will increase oil production from its 30 old oil fields by 800,000 barrels of oil per day, SHANA reported quoting Managing Director of Petroleum Engineering and Development Company (PEDEC) Naji Saadouni as saying.
"We can increase the oil production of Iran's 30 old oil fields by 800,000 barrels of oil per day by installing new technology, including new electronic pumps for wells," he said.
Development of the Masjed Soleiman oil field and increase of oil production by 25,000 barrels is currently major project for the company, he added.
According to Saadouni, the infrastructural plans in west of Karoon will change the region into Iran's new oil hub and the Azadeghan oil field in this region is expected to increase oil production by 20,000 barrels of oil per day to 75,000 bpd in Azadeghan first Phase .
Iran has OPEC's second-highest oil output, and ranks second in the world in terms of natural gas reserves after Russia.