Iran plans to increase daily oil-gas output by 2015

Posted on August 5, 2012


Iran plans to increase country’s daily oil output by 15,000 barrels, according to the managing director of the National Iranian Central Oilfields Company Mehdi Fakour.

Fakour said the development of Sarvestan and Saadatabad oilfields will boost Iran’s total oil output, adding that the country will will start early production at the two oilfields by the next three months.

“To date, 10 wells have been drilled at the oilfields and two other will soon become ready for being injected with natural gas,” he said.

Despite being hit by the Western sanctions, Iran continues to export oil.

The NIOC’s managing director Ahmad Qalebani has said that the country’s daily oil and gas outputs should amount to 5 million barrels and 1.47 billion cubic meters by 2015.

Iran exported 2,537 bpd of crude oil in 2011. In 2010 the country exported 2,583 bpd of crude, and 2,406 bpd in 2009, according to OPEC. In 2007 Iran’s crude exports were the highest for the past 5 years, standing at 2,639 bpd.

With increasing sanctions, Iran experiences problems with oil transportation, oil tankers insurance and local private companies that have no experience of selling oil.

Even if Iran does reach the stated levels of gas and oil outputs by 2015, a question whether the Islamic Republic will be able to sell it or not – remains open.

Posted in: iran oil