Iran's oil production to reach 3.6 mn bpd by March 2024
Iran's oil minister Javad Owji has said that this country's oil production will reach 3.6 million barrels per day (bpd) up to the end of the current Iranian calendar year (ends on March 20, 2024).
MEHR: Iran's oil minister Javad Owji has said that this country's oil production will reach 3.6 million barrels per day (bpd) up to the end of the current Iranian calendar year (ends on March 20, 2024).
Owji made the remarks during the Iranian President's visit to the Oil Ministry on Monday, in which Raeisi was briefed about the oil industry’s plans for the current Iranian year (starting on March 21).
Referring to the point that Iran has 163 billion barrels of proven reserves, Owji added that Iran aims to reach 5.7 million bpd of oil production for Iran's Seventh National Development Plan (7NDP).
Some six contracts have been signed in the joint oil and gas fields, which are mostly related to the joint fields in the west of Karun, such as Azadegan, Yaran, etc., and the value of these contracts is $14.5 billion, he added.
Iran's Oil Minister said that in Forouzan Oil Field, oil production was 24,000 barrels per day in 2021, which this amount has reached 30,000 barrels and will reach 40,000 bpd by the end of September 2025.
Owji added that oil production from the Forouzan Oil Field has increased by 25% and the number of wells has increased by 8%.
