Speaking to reporters on Lavan Island, IOOC CEO Ahmadreza Rasti said the 6,200-ton P4 processing platform was designed, built, transported and installed entirely by Iranian specialists as part of the Reshadat field expansion project.

Rasti described the platform as a showcase of domestic engineering capabilities, noting that its four-leg design is uncommon for a structure of its size. He added that the installation was carried out using the float-over method, which reduces costs compared with conventional techniques but requires highly precise execution and favorable offshore conditions.

The platform installation had originally been scheduled for March but was postponed because of conditions related to the recent conflict. The operation was completed successfully once conditions allowed, he said.

Focus on Sustainable Production

Rasti emphasized that “sustainable production” does not mean reducing output but maximizing ultimate recovery from the reservoir over the life of the field.

He said the Reshadat field, like many offshore reservoirs in the Persian Gulf, relies on water injection to maintain pressure. As a result, the development project includes the simultaneous injection of 80,000 barrels of water per day alongside higher oil production.

According to Rasti, Iran’s oil industry remains focused on achieving maximum production capacity while ensuring reservoir preservation and improving recovery rates.

Full Development Targeted by 2027-28

The Reshadat development plan includes five offshore platforms and the drilling of 20 wells, including 10 water-injection wells. A substantial portion of the drilling program has already been completed, while pipeline installation, well completion work, downhole pump deployment and processing-facility construction continue.

Rasti said the project is expected to reach its full additional production capacity of 35,000 barrels per day by the Iranian year 1406 (March 2027-March 2028).

One of Iran’s Oldest Offshore Fields

Production from the Reshadat and Resalat fields began in 1969, making them among the oldest producing assets in Iran’s oil industry. Current production from the Reshadat field ranges between 12,000 and 14,000 barrels per day, according to Rasti.

He added that development work is also underway at the Resalat field and that part of its facilities are ready for installation. Plans are also being advanced for the second phase of development at the Salman gas field, a shared reservoir considered a key offshore investment opportunity.

Rasti said the Reshadat gas field contains an estimated 4.7 trillion cubic feet of recoverable gas reserves and has been included in investment packages offered to potential investors.

More Than $5b in Investment Opportunities

The IOOC chief said more than $5 billion in investment opportunities have been identified across the Lavan region, including the Resalat, Reshadat and Salman field projects.

He said many of the projects are being executed under domestic contracts, while opportunities remain open for new investors. Despite sanctions-related pressures and currency volatility, local contractors have continued to advance development work.

Light Crude From Lavan Fields

Rasti said crude produced from the Resalat, Reshadat and Salman fields has an API gravity of about 35 degrees, placing it in the light to medium-light category. The oil is transported via pipeline to Lavan Island for processing.

He also said that despite damage to some oil facilities during the recent conflict, production capacity in the Lavan area has largely been maintained and restoration work has progressed by more than 90%.

Rasti praised offshore personnel for sustaining operations under difficult conditions, saying their expertise and commitment prevented disruptions to Iran’s oil production. He added that the Behregan region remains one of the country’s most important offshore production hubs, with normal output of about 55,000 barrels per day.

“Maintaining production and rapidly returning damaged facilities to service is the result of the expertise, commitment and dedication of oil industry workers across the country’s operational regions,” he said.