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Iran to raise oil output to 4.3m bpd by year end

Ahvaz, Khuzestan province, May 22, IRNA - Iran's deputy oil minister said on Thursday that Iran will increase its oil output to 4.3 million barrels per day by the end of the current Iranian year.

Speaking at a press conference, Seifollah Jashnsaz said that such an increase is due to major projects implemented by the Oil Ministry this year.

At present, Iran is daily producing 4.207 million barrels of oil which shows an increase of 105,000 barrels compared to last year, Jashnsaz added.

The surplus oil will be supplied from Darkhovein, Shadegan and Hengam oil fields in Khuzestan province, southwestern Iran.

The deputy minister said that the economic sanctions imposed by West would not have any impact on the country's oil output but would provide a great opportunity for Iran.

The Oil Ministry has taken effective steps towards meeting domestic needs, Jashnsaz noted.

In addition, he said that the country should seize the opportunity to raise investments in oil industry.

... Payvand News - 05/22/08 ... --

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