Iran expands oil, gas extraction from joint fields

Oil&Gas Materials 29 August 2020 21:01 (UTC +04:00)
Iran expands oil, gas extraction from joint fields

BAKU, Azerbaijan August 29

By Elnur Baghishov – Trend:

Iran currently outperforms neighboring countries in production from oil fields west of the Karun River and the South Pars gas field, said Kasra Nouri, Head of the Public Relations Department of the Ministry of Petroleum of Iran, Trend reports citing Shana news agency.

According to the official, the extraction from Iran-Iraq joint oil fields in west of the Karun River reached 400,000 barrels per day at present compared to seven years ago (the current Iranian government came to power in August 2013). It means an increase of 6 times compared to seven years ago.

He added that this figure was 70,000 barrels per day 7 years ago (from March 21, 2013 to March 21, 2014).

The official noted that daily gas extraction from the Iran-Qatar joint South Pars gas field (called North Dome in Qatar) was 280 million cubic meters per day seven years ago.

"Currently, this figure has increased 2.5 times to about 700 million barrels per day," he said.

Nouri emphasized that as for petrochemical production, the value of petrochemical goods was about $11 billion a year 7 years ago. However, this figure will reach $25 billion by the end of current Iranian year (from March 20, 2020 to March 21, 2021).