Iran expected to produce 2.7bn more barrels of oil from shared Azadegan Field: Minister

IRNA – With a 10% increase in extraction rate from the shared field of South Azadegan, Iran is expected to produce some 2.7 billion more barrels of oil amounted to dlrs one trillion, Petroleum Minister Bijan Zangeneh said on Monday.

Speaking in the signing ceremony of a contract to develop South Azadegan Field, the minister that incomes from South Azadegan Field is also expected to grow by dlrs one trillion.

Zangeneh emphasized the need to give a boost to activities in shared fields both in West Karoon and South Pars, however, noting that the same measures have been taken to develop other shared fields which will bear fruit by the end of this government’s term.

Iran has increased its production capacity in West Karoon from 70,000 barrels to 400,000 barrels, the minister said.