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Oil Minister says Iran to raise oil output to 5 million barrels a day

Iran will raise its oil production capacity to five million barrels a day in two years from the current level of four million barrels a day, Oil Minister Bijan Namdar Zanganeh said in Tehran on Saturday, IRNA reported.

Zanganeh said Iran is now engaged in a project for injection of gas to Aghajari oil field at a capital of more than dlrs three billion, dlrs two billion of which will be for gas production.

He said projects in Bangestan, Darkhoein, Salman and Foruzan oil fields are aimed for justifiable exploitation of the reserves and contracts have been concluded for exploitation of all jointly owned fields, excluding South Pars.

... Payvand News - 4/26/03 ... --

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