Baku, Azerbaijan, Feb. 14
By Umid Niayesh - Trend:
The output capacity of the Gachsaran oil field located in Iran's south western Kohgiluyeh and Boyer-Ahmad Province has increased by 40 percent, Ahmad Pourhadi, an official with the Gachsaran Oil and Gas Company said.
The crude oil output by the company has increased to 940,000 barrels per day from the previous level of 750,000 barrels, Pourhadi said, Iran's official IRIB news agency reported Feb. 14.
The official further said that currently 1.2 billion cubic feet of gas as well as 600,000 barrels of oil are produced in Gachsaran in a daily basis.
The company produces 20 percent of the country's crude oil, Pourhadi added.
Gachsaran oil field was discovered in 1928 and developed by National Iranian Oil Company. It began production in 1930. The total proven reserves of the Gachsaran oil field are around 66.7 billion barrels.
Iran, with 157 billion barrels, holds the world's fourth-largest proved crude oil reserves and the world's second-largest natural gas reserves (33.78 trillion cubic meters).
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