ID :
207029
Wed, 09/14/2011 - 10:29
Auther :
Shortlink :
https://oananews.org//node/207029
The shortlink copeid
Iran to Boost Crude Production by 1mln Barrels
TEHRAN (FNA)- Iranian Oil Minister Rostam Qassemi said Tehran plans to boost crude output by one million barrels per day (bpd) in the next two years.
Addressing a meeting with oil industry officials in Southwestern Iran, the minister underlined that oil production must increase by 1 million barrels a day by 2013.
Iran, the second-biggest producer in OPEC, pumped 3.6 million barrels of oil a day in August, according to data compiled by Bloomberg.
According to the oil ministry's website Shana, Qassemi said steps planned for boosting production include developing new oil fields and deposits that Iran shares with its neighbors, using secondary methods of recovery such as gas injection and installing desalination units and other processing facilities.
He reiterated his ministry's plans to sell bonds worth 1 trillion Iranian rials ($94 million) in the current Iranian calendar year, which started on March 21, to pay for oil projects.
Iran has also announced plans to boost gas production in the near future. Last month, Qassemi announced that the country plans to boost output of the South Pars gas field by three times through developing new phases of the field.
Qassemi said that once the new phases of the South Pars gas field in the Persian Gulf come on stream, the output of the giant gas field will witness significant growth.
Considering the extensive exploitation of the joint field by neighboring Arab countries, Iran should speed up and maximize its oil and gas extraction, he stated, noting that Iran shares joint oil and gas fields with Qatar, Iraq, and the Persian Gulf littoral states.
He went on to say that Iran's exploitation of joint fields is low compared to that of the neighboring countries.
During a visit to the remaining phases of South Pars earlier in the week, Qassemi said that phases 15 and 16 of the gas field would be launched in October.
Iran, which sits on the world's second largest reserves of both oil and gas, is facing US sanctions over its civilian nuclear program.
Iranian officials have dismissed US sanctions as inefficient, saying that they are finding Asian partners instead. A large number of Chinese, Indian and other Asian firms have negotiated or signed up to oil and gas deals with Iran.
Following US pressures on companies to stop business with Tehran, many western companies decided to do a balancing act. They tried to maintain their presence in Iran, which is rich in oil and gas, but not getting into big deals that could endanger their interests in the US.
Yet, after oil giants in the West witnessed that their absence in big deals has provided Chinese, Indian and Russian companies with excellent opportunities to sign up to an increasing number of energy projects and earn billions of dollars, they started showing increasing interest to invest or expand work in Iran.
Some European states have also recently voiced interest in investment in Iran's energy sector after the gas deal was signed between Iran and Switzerland regardless of US sanctions.
Addressing a meeting with oil industry officials in Southwestern Iran, the minister underlined that oil production must increase by 1 million barrels a day by 2013.
Iran, the second-biggest producer in OPEC, pumped 3.6 million barrels of oil a day in August, according to data compiled by Bloomberg.
According to the oil ministry's website Shana, Qassemi said steps planned for boosting production include developing new oil fields and deposits that Iran shares with its neighbors, using secondary methods of recovery such as gas injection and installing desalination units and other processing facilities.
He reiterated his ministry's plans to sell bonds worth 1 trillion Iranian rials ($94 million) in the current Iranian calendar year, which started on March 21, to pay for oil projects.
Iran has also announced plans to boost gas production in the near future. Last month, Qassemi announced that the country plans to boost output of the South Pars gas field by three times through developing new phases of the field.
Qassemi said that once the new phases of the South Pars gas field in the Persian Gulf come on stream, the output of the giant gas field will witness significant growth.
Considering the extensive exploitation of the joint field by neighboring Arab countries, Iran should speed up and maximize its oil and gas extraction, he stated, noting that Iran shares joint oil and gas fields with Qatar, Iraq, and the Persian Gulf littoral states.
He went on to say that Iran's exploitation of joint fields is low compared to that of the neighboring countries.
During a visit to the remaining phases of South Pars earlier in the week, Qassemi said that phases 15 and 16 of the gas field would be launched in October.
Iran, which sits on the world's second largest reserves of both oil and gas, is facing US sanctions over its civilian nuclear program.
Iranian officials have dismissed US sanctions as inefficient, saying that they are finding Asian partners instead. A large number of Chinese, Indian and other Asian firms have negotiated or signed up to oil and gas deals with Iran.
Following US pressures on companies to stop business with Tehran, many western companies decided to do a balancing act. They tried to maintain their presence in Iran, which is rich in oil and gas, but not getting into big deals that could endanger their interests in the US.
Yet, after oil giants in the West witnessed that their absence in big deals has provided Chinese, Indian and Russian companies with excellent opportunities to sign up to an increasing number of energy projects and earn billions of dollars, they started showing increasing interest to invest or expand work in Iran.
Some European states have also recently voiced interest in investment in Iran's energy sector after the gas deal was signed between Iran and Switzerland regardless of US sanctions.
