Baku, Azerbaijan, Sept.13
By Fatih Karimov - Trend:
Iran has resumed production from Nosrat oilfield, which is associated with the UAE in the Persian Gulf.
Iran has restarted extracting 3400 barrels of crude oil from the oilfield, Iran's Fars news agency reported on September 13. The output is projected to increase to 10,000 bpd in the future.
Nosrat oil field is located 35 kilometers to the Southeast of Siri Island in the Persian Gulf and it is a shared oil field with the UAE. The UAE's portion of the oilfield is called Fateh oil field.
Siri is one of the six zones covered by Iranian Offshore Oil Company (IOOC) in Persian Gulf and comprises Alvand, Sivand, Esfand, Nosrat, Dena and Mobarak oil fields.
Iran's crude oil output (excluding condensates) has increased by 14,700 barrels per day in August compared to the preceding month and stood at 2.769 million barrels per day (mbpd).
The country stood out among the Organization of Petroleum Exporting Countries (OPEC) after Saudi Arabia, Iraq, the UAE and Kuwait based on secondary sources, according to the latest monthly report of the OPEC, released on Sept. 10.
The Islamic Republic's oil production is 3.01 mbpd for August according to an OPEC report based on direct communication, indicating a 241,000 barrel difference between OPEC's estimates and Iran's data.
Iran ranked third, in an OPEC report on oil production in 2012 after Saudi Arabia and Iraq, however in 2013 it fell to fifth spot.
The country's oil production has decreased by 208,000 bpd since 2012. Meanwhile, compared to the 2013 figure the country's oil output indicates an increase by 96,000 bpd.