Iran to boost oil output by another 200,000 bbl/d

Oil&Gas Materials 14 February 2016 17:32 (UTC +04:00)

Tehran, Iran, February 14

By Mehdi Sepahvand - Trend:

Iran has already increased its oil output by 400,000 bbl/d and grounds are about to be laid for another 200,000 increase in near future, Iranian Deputy Oil Minister Roknoddin Javadi said.

"With the export of first crude oil consignment to Europe a new chapter has begun in Iran's oil industry," he said, IRNA news agency reported February 14.

"We have so far reached an agreement with the French Total for a daily export of 160 to 180 thousand barrels of crude," he added, noting that Iran has also started talks with Russia's Lukoil and a Spanish oil company.

He further explained that the deal with Total will be extended every year as long as the sides do not close it.

Iran has announced its intention to boost its oil output by one million bbl/d.

For the first time after the removal of international sanctions on Tehran, three European tankers docked at Iran's Kharg oil terminal, Pirouz Mousavi said the same day.

A day before, Javadi said that Tehran is preparing to lead four million barrels of oil to Europe.