Iran to hike oil output

Iran Materials 8 January 2011 13:13 (UTC +04:00)

An official of the Iranian Offshore Oil Company (IOOC) said Hendijan oil field will be developed by digging eight new wells increasing oil production by 20,000 to 25,000 barrels a day.

Hamid-Reza Karimi on Thursday said that the new rigs will be completed in the next 10 days.

Karimi added that in five years time by digging four wells in rig 10 of Hendijan oil field and expanding North Hendijan the country will produce 40,000 to 45,000 barrels per day.

IOOC says that it is focusing on the Soroush, Norouz, Hendijan, Bahregansar and Mahshar oilfields.

All these oilfields are located in southwestern Iran, in the northwest of the Persian Gulf, close to Bushehr province, where oil production started in the 1940s.

Currently, Bahregansar, Hendijan, Norouz, and Soroush fields produce over 235,000 barrels of oils per day.

NIOC's managing director Mahmoud Zirkachianzade announced earlier this month that the company plans to develop 18 oil and gas fields in Iran's Persian Gulf territorial waters, Press TV reported.