Iran capable to produce 3 million bpd of oil: Official

IRNA – The deputy head of National Iranian Oil Company (NIOC) said the country is capable to produce 3 million barrels of oil per day.

alking to IRNA, Gholam-Reza Manouchehri said as per the plans proposed by the international companies, the country has the capacity to increase its daily oil production to 3 million barrels.

Referring to the new agreements to be reached between Iran and international companies, he added 60 to 70 percent of the upcoming projects would be implemented by the Iranian side.

Manouchehri underscored that several oil agreements are set to be reached within the next two years between the Iranian and international companies.

He added transfer of new technologies for extracting more petroleum would would be highlighted in new oil contracts.