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Iran plans to boost oil output in Persian Gulf by 100,000bpd

Source: Tehran Times

Iran has launched projects to develop four oilfields, located in Persian Gulf, and raise the total output by 100,000 barrels per day (bpd) in the current calendar year, which began on March 20, said the managing director of the National Iranian Offshore Oilfields Company.

"Some $9 billion worth of contracts were signed last year to develop Salman, Lavan and Forouz B fields," Mahmoud Zirakchianzadeh told Mehr news agency.

This year, boosting outputs at Reshadat, Forouzan, Hengam and Hendijan fields by 100,000 bpd has been planned, he added.

Iran is planning to boost oil output at the Bahregan oil block in the Persian Gulf to by 35,000 barrels per day (bpd) to reach 175,000 bpd by 2015, an official with the Iranian Offshore Oil Company said in January.

Roham Qasemi told the Pana news agency that the Bahregan oil block holds around 21.5 billion barrels of crude and 1.5 trillion cubic feet of natural gas.

Iran has attached the priority on boosting gas production capacity from its joint oilfields with Qatar and Saudi Arabia, Oil Minster Rostam Qasemi said.

Iran sits on the world's second largest natural gas reserves after Russia and is trying to grow its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.

The field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.

... Payvand News - 04/16/12 ... --

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