SHANA – A senior Iranian oil official said the Joint Comprehensive Plan of Action (JCPOA) would be considered effective for Iran’s oil industry as long as international relations, made possible via the deal, continue.
Addressing a commercial conference in Tehran on Saturday, Amir Hossein Zamaninia, deputy petroleum minister for international affairs and trading, said, “For oil, JCPOA continues to be alive just as long as it can allow continuation of international relations.”
“For the oil industry, as long as oil exports are without problems, oil markets receive oil from Iran, we easily get our oil revenues, projects are financed, oil industry equipment are purchased from world markets, and shipments and oil tankers do not get bogged down, the JCPOA will be deemed effective, and we will pursue our goals with more effort and speed.”
Noting that Iran’s oil and gas condensate exports rose by 1.018 million barrels a day to 2,418,000 barrels per day after implementation of the deal, he said: “Now, Iran exports an average of over 2.5 million barrels of crude oil and gas condensate per day.”
He underlined the 400% increase in oil recovery from West Karoon oilfields, adding production form the fields has increased from 70,000 b/d in 2013 to currently over 300,000 b/d.
Zamaninia also touched on natural gas production from South Pars Gas Field, saying production has increased from 280 mcm/d to 550 mcm/d and gas exports are planned to rise to 60 mcm/d.