Baku, Azerbaijan, September 12
By Khalid Kazimov -- Trend:
Iran's Karoon Oil and Gas Production Company has increased its oil output by 42,800 barrels since the beginning of the current Iranian fiscal year (March 21).
The increase follows measures undertaken to boost output from expanded, repaired, and mended oil wells, said Mohammad Rahimi Qashqai, CEO of Technical Affairs at Karoon Oil and Gas Production Company, IRNA news agency reported September 12.
Companies affiliated to the Iranian Ministry of Petroleum are getting ready to boost their output by 500,000 barrels after sanctions on Iran are removed.
Karoon Oil and Gas Production Company counts for 25 percent of Iran's oil production.
Since the start of this year, four wells with discharge volumes of 4,200 barrels per day went on stream and the repaired wells which went on stream during the same period were 12 wells with 17,600 barrels, he said.
Accordingly, a daily output of 21,000 barrels of crude was materialized.
The official also pointed out that in the first five months of the current Iranian year, Iran saved on 29,500 barrels of oil by using MOTs to prevent the burning of raw oil at wells, instead collecting and sending them to refineries to be used.
Iran's current oil production stands at about 2.7 million barrels per day.
There are three main sanctions on the Iranian oil sector which the country expects to be removed, including the transfer of petrodollars, providing oil tankers, and insuring the tankers.
The sanctions are to be removed following a deal between Tehran and world powers which was made on July 14.
Iran is planning to increase its oil export from one million barrels a day to 1.5 million in the course of seven days once the sanctions are lifted.
After that, the country will increase its export to two million barrels per day during the course of a six-month program.