TEHRAN (Iran News) – Iran to Increase Oil Production to 6.5 mb/d. Iran’s oil minister says increasing oil production brings economic and security power, said:” We can easily increase oil production to 6.5 million barrels per day.”
Speaking on the sidelines of the ceremony for developing the Azadegan oil field, Bijan Zangeneh stated that despite imposed sanctions on financial, technological, and equipment, enormous steps had been taken in Iran’s oil fields, one of which was West Karun oil field reaching from 70,000 to 400,000 barrels per day.
Zanganeh noted that the main points to consider for oil increase were management and technology.
“Fortunately, imposed sanctions have made Iranian companies attend in oil trading at foreign markets,” he pointed.
He said entrusting oil revenue to private sectors could create a big difference.
Zangeneh added that the oil increase could make the country independent, underlining that the oil revenues were not just to pay salary or subsidies.
With 1,500 square kilometers, located near the Iraqi border and about 80 kilometers west of Ahvaz, the Azadegan oil field is the largest joint oil field in Iran.
The in-place oil reserves of this field are estimated at 32 billion barrels. The field is shared with Iraq’s Majnoon field.
The ceremony was held on Monday by the Iranian Minister of Oil Bijan Zangeneh and the National Iranian Oil Company CEO for signing three documents between NIOC and 5 Iranian exploration and production firms on May 31, 2021.
Understanding the study’s memoranda for developing the Azadegan oil field was inked between the National Iranian Oil Company and Iranian exploration and production companies.
In a ceremony attended by the Oil Minister Zangeneh and the National Iranian Oil Company CEO on Monday, study agreements for the development of the Azadegan joint field were signed between the National Iranian Oil Company and five Iranian exploration and production companies.
During the ceremony, the executive operation of the gas production maintenance plan of Homa, Varavi, and Tabnak fields in the area of the Central Iranian Oil Company commenced by establishing a connection with the project site in the south of Fars Province.
Homa, Varavi, and Tabnak fields in the Parsian operational area of the South Zagros Oil and Gas Exploitation Company are located near the cities of Parsian, Lamerd, Khan, and Mohr.