Iranian oil output surges in Persian Gulf

TEHRAN, Jun. 25 (MNA) – An oil official, while pointing to overhaul and drilling of new offshore wells, said Iran’s crude oil production in the west of Persian Gulf has climbed by six thousand barrels per day.

Following the policy to increase production and exports of Iranian oil in the post sanction era, the production capacity in the Persian Gulf has increased by 6,000 barrels per day upon repairing and drilling of new oil wells.

A three-stage project has been defined to escalate the country’s capacity for oil production in the Persian Gulf with the first stage being implementation of emergency plans to reach a daily production of 32 thousand barrels of Iranian crude in the region.

In addition, medium- and long-term plans to gain an output of 130 and more than 800 thousand barrels crude oil have been put on the agenda of the Iranian Offshore Oil Company (IOOC) as second and third phases, respectively.

Abbas Rajabkhani, the official in charge of the IOOC's operations in Lavan region, pointed to the 6,000-barrel increase in crude oil production in the west of Persian Gulf saying “moreover, a new well in addition to the platform pipeline of Soroush platform have recently become operational.”

Before the imposition of international sanctions against the country, Iran had reached the daily production of 810 thousand barrels and an average annual production of 724 thousand barrels in the Persian Gulf.

In order to achieve the goal of increasing oil production the Persian Gulf region, three operational scenarios have been put on the agenda including increased recycling rate, secondary production projects as well as compensation for the natural decline in oil production.

HA/3694665

News Code 117623

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