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Iran oil production to jump by 1m bpd in 3 years

TEHRAN, Nov. 6 (Mehr News Agency) - Oil production from Azadegan, Yadavaran and Anaran oilfields, southern Iran, in the next three years will increase the country's crude capacity by one million bpd, managing director of National Iranian South Oil Company (NISOC) noted on Monday.

Seifollah Jashnsaz also said that the oil recovery rate in giant oilfields of southern Iran is now at 10-16 percent and in some cases may touch 40 percent. NISOC's current production capacity stands at 3.2 million bpd, ISNA reported.

Increasing recovery rate for 16 oil blocks, development of new fields, construction of new installations for gas injection and employing the latest technology combined with skilled and young workforce are among both ongoing and future plans at NISOC, he elaborated, prompting that development of 40 oil and gas fields after the Islamic Revolution is a testimony to Iranian ingenuity and capability.

NISOC is the largest affiliate of National Iranian Oil Company (NIOC) active in 400,000 square kilometers of Khuzestan, Fars, Bushehr and Kohgiluyeh-Boyer Ahmad provinces.

... Payvand News - 11/07/06 ... --

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