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Iran’s oil production to increase by 20,000 bpd

Oil&Gas Materials 2 October 2011 17:12
Iran is to increase oil production in Persian Gulf by 20,000 barrels per day by mid October
Iran’s oil production to increase by 20,000 bpd

Azerbaijan, Baku, Oct. 2 /Trend A. Qurbanova/

Iran is to increase oil production in Persian Gulf by 20,000 barrels per day by mid October, Mehr News Agency reported quoting Managing Director of Iranian Offshore Oil Company Mahmoud Zirakchian as saying.

"It's predicted the plan to increase oil production will be launch by mid October in Hengham and Reshadat oil fields," he said.

He noted the Oil Ministry planned to increase oil production capacities of Reshadat oil field to 40,000 barrels of oil per day by the end of current solar year (started on March 20,2011).
Iran has 15 joint oil and gas fields in Persian Gulf and expected to develop these fields by 8 billion dollars investment.

The joint gas fields in Persian Gulf are expected to increase production to 4 billion cubic foot natural gas while development of Reshadat, Salman, Sourosh, Hengham and Behregan oil fields will increase production to 65,000 barrels of oil this year.

Iran has OPEC's second-highest oil output, and ranks second in the world in terms of natural gas reserves after Russia.

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