Iran oil output up 1mbd since 2016

SHANA – Iran’s crude oil production has risen by at least a million barrels per day from 2016.

Director of production at the National Iranian South Oil Company (NISOC) Abdolreza Dabiri has said that Iran’s oil output has grown over a million barrels per day since 2016.

NISOC accounts for 83% of the country’s oil production, he said.

The official further added that the boost was made possible in the wake of eased sanctions on Iran’s oil industry and by resorting to NISOC’s domestic capabilities and skilled workforce.

He further said that the company has carried out projects over 150 development, repair and workover wells which prevented the reduction of nearly half a million barrels/day of crude production during last year.

NISOC supplied 2.925 mbd in the first half of the current Iranian calendar year which began on March 21, materializing 100% of the company’s expected production.

It also supplied 71 million cubic meters of natural gas, 112% of its estimated production during the period.

The company also produced 27,000 barrels of naphtha, and 99,676 barrels of liquefied petroleum gas on a daily basis in the H1.