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Iran sets 4.23 million bpd oil production record

TEHRAN, June 29 (Mehr News Agency) - By producing 4,230,000 barrels of oil per day, the National Iranian Oil Company set a record during the thirty years after the victory of the Islamic Revolution, the managing director of the NIOC stated on Sunday.

Seifollah Jashnsaz added that the company is undertaken to raise the output to 4,280,000 bpd by March 2009.

The oil industry of the Islamic Republic of Iran has been under global sanctions during the 30 years after the revolution, the minister said, "But this issue has not ever hindered us from attaining our pre-defined goals."

Euro 2.7B investment to raise Arak refinery output

ARAK, June 29 (Mehr News Agency) - The production capacity of Arak refinery will increase to 249,100 barrels per day from the current 169,100 bpd through 2.7 billion euro investment, the manager of the project for qualitative improvement of Arak refinery products stated on Sunday.

Mr. Rashid Seyedian added that a consortium constituted of an Iranian company and the Chinese SEI Company has started the project progressing by 20 percent so far.

Iran in gas deal talks with China

Press TV - Iran's Pars Oil and Gas Company is in talks with two foreign companies to sign a deal to develop the country's North Pars gas field.

"We have entered negotiations with China's CNOOC [the China National Offshore Oil Corp] and another foreign company," said the Iranian company's Managing Director Ali Vakili.

"Once a deal is finalized with either of these companies, the development of the North Pars gas field will begin," he added, but he did not say what the name of the second foreign company was.

The National Iranian Oil Company (NIOC) and CNOOC agreed last year to sign a deal to develop the North Pars gas field, which lies about 15 kilometers off the coast of the city of Bushehr in the Persian Gulf. However, the signing of the deal was postponed in February.

The North Pars gas field reportedly contains 80 trillion cubic feet of gas, with each of its four phases expected to produce 1.2 billion cubic feet per day.

Iran to increase export gas to Turkey

Tehran, June 29, IRNA - Iranian Oil Minister Gholam Hossein Nozari said here on Sunday that the export of natural gas to Turkey will increase in winter of 2008.

Referring to the recent meeting of oil importing and exporting countries which was held in Jeddah, Saudi Arabia, Nozari noted that negotiations have been held for increasing the volume of gas export to Turkey.

Turkey has been buying gas from Iran via a pipeline from the northwestern city of Tabriz to Ankara since December 2001 as per a contract signed in 1996.

Tehran, which holds the world's second largest gas reserves, currently meets one third of Ankara's domestic demand.

... Payvand News - 06/29/08 ... --

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