Iran oil output to hit 4 mb/d soon

TEHRAN Dec 07 (Shana): Managing-Director of National Iranian Oil Company (NIOC) Roknoddin Javadi said Iran’s oil production capacity will reach four million barrels a day in the near future.

“Numerous projects are being operated by NIOC with most of them pertaining to oil and gas production,” Javadi told Shana.

Iran’s oil production capacity soared to 3.5 mb/d in the Iranian month of Aban which ended on November 21, a big jump from September production. Petroleum Ministry plans to raise the country’s oil output to 3.85 mb/d by the end of the current calendar year on March 20, 2014.

Iran’s Petroleum Minister Bijan Namdar Zanganeh said on Wednesday that Iran will under any circumstances bring its oil production to 4 mb/d.

Javadi also said Petroleum Ministry and NIOC focus on the acceleration of work in the South Pars gas field.

He said Phase 17 or 18 of the giant offshore gas field is expected to come on-stream next year.



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