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10/18/11

Iran sets up biggest Persian Gulf oil platform

Source: Press TV

The Islamic Republic of Iran has installed the biggest oil exploitation platform in the Reshadat oilfield in the Persian Gulf, a report says. The platform has been ordered by the Iranian Offshore Oil Company (IOOC) and built domestically over a one-year period, IRNA reported on Tuesday.

Iran's Reshadat oilfield in Persian Gulf
Iran's Reshadat oilfield in Persian Gulf

The Reshadat oilfield lies 110 kilometers southwest of Lavan Island.

The platform will weigh up to 4,500 tons, up from the initial 3,100 tons, following the installation of its stabilizing pillars.

According to the Iranian Tasdid Marine Structures Development Company, which was involved in the construction of the platform, a structure weighing 9,000 tons will be installed on the platform.

The platform is expected to increase Iran's total oil production by 75,000 barrels per day.


Iranian Offshore Oil Company (IOOC)

On Sunday, Iranian Oil Minister Rostam Qasemi said the country plans to increase crude output to 5.2 million barrels per day by 2015.

"By the end of the Fifth Development Plan (2010-15), the country's oil production must increase to 5.2 million barrels per day and this should happen from the country's joint fields," Qasemi explained.

He also said that Iran holds more than 600 billion cubic meters of oil, of which 158 billion barrels are recoverable.

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