Minister: Iran ready to boost daily oil export to 1m barrels

Tehran, March 28, IRNA – Oil Minister Bijan Namdar Zanganeh said Iran is ready to increase its oil export to one million barrels a day once sanctions against the country are lifted.

He said the scheme is quite practical in a short time given the fact that it will be done using the collective oil production capacity of all fields.

Zanganeh referred to phases 19, 20 and 21 of South Pars as top-priority development projects for his ministry in the new Iranian year (started March 21, 2015) and said these phases enjoy high importance because of their fairly good progress in the offshore sections.

The minister also noted that these sections will compensate for gas shortage in the winter times.

Eight small-scale gas condensation refineries with a total capacity of 480,000 barrels will be inaugurated in Siraf, south of the country, by late spring, he added.