23 August 2022 - 10:37
  • News Code: 460958
Iran Eyes 4mbd Crude Oil Production Capacity by Early 2023

TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC) voiced Iran’s readiness for maximum gas condensate swap, adding the country is preparing to bring its crude oil production capacity to over 4 million barrels per day by the end of the current calendar year, which began on March 21.

Speaking in Kish Island on Monday, Mohsen Khojastehmehr told reporters that by the end of the current Iranian calendar year, the oil production capacity of the country will exceed 4 million barrels per day.

“This week, we will have executive operations to develop a number of joint oil and gas fields in Khuzestan province and the Persian Gulf,” he said about the company’s projects during the Administration Week.

He said the projects include development of North Yaran, South Yaran, Balal and Sohrab fields, and launching of the sweetening unit of the 2nd and 3rd phases of South Pars with a capacity of 60,000 barrels per day, as well as beginning the construction of the new 32-inch sour gas pipeline of phase 16 of South Pars gas field.

In response to a question about the decision to develop the Arash field, the NIOC CEO said: “The Company is fully prepared to start drilling in the Arash field, and as soon as the conditions are determined and the work procedures begin, drilling operation will begin, and NIOC has a complete plan to develop the oil and gas sector of this field that has been approved by the NIOC board of directors.”

Regarding gas imports from Russia, Khojstehmehr said: “In general, Iran's position on this issue is gas trade, and due to its geographical location, the Islamic Republic is ready to swap gas to destinations that the gas supplier considers.”

Asked about Iran’s current crude oil output and the plan to increase production capacity if the JCPOA comes to a conclusion, he said: “As previously announced, the oil production capacity of the National Iranian Oil Company by the end last calendar year was 3.838 mbd and according to the planning, Iran's crude oil production capacity will exceed 4 mbd by the end of 1401.”

News Code 460958

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