Iran’s Oil Output to Rise 3.5 Million bpd by Yearend: NIOC Chief
TEHRAN (Tasnim) – The chief executive of the National Iranian Oil Company (NIOC) said that the country will produce 3.5 million barrels of oil per day (bpd) by the end of the current Iranian calendar year (March 20, 2024).
Speaking to reporters on the sidelines of a local ceremony on Monday, Mohsen Khojastehmehr put the current oil production volume in the country at 3.3 million bpd, expandable to 3.5 million bpd by the yearend.
The deputy oil minister also pointed to the negotiations between Iran and Russia in the oil and gas sector and said their details would be announced once they bear fruit.
Turning to boosting gas pressure at South Pars Gas Field in order to retain production level, the CEO of NIOC said that a feasibility study has been conducted for boosting gas pressure in the field in cooperation with both domestic and foreign consultants.
