Iran Oil Exports Surpass 2mln bpd, Minister Says
TEHRAN (Tasnim) – Iranian Oil Minister Bijan Namdar Zangeneh said on Sunday that the country’s crude oil exports have exceeded two million barrels per day in the wake of the removal of sanctions under the Joint Comprehensive Plan of Action (JCPOA) between Tehran and world powers.
Iran's oil and gas condensate exports are now at more than 2 million barrels per day, Shana news agency quoted Zangeneh as saying.
Referring to the country’s massive South Pars gas project, the oil minister stressed that completion of the energy hub’s phases will be high on the ministry’s agenda this year.
Earlier, Ali Akbar Shabanpour, the managing-director of Iran’s Pars Oil and Gas Company (POGC) announced that total production of gas and condensates in the South Pars gas field in southern Iran increased by 15 percent during the last Iranian year, which ended on March 19.
The South Pars gas field, whose development has been divided into 28 phases, is located in the Persian Gulf straddling the maritime border between Iran and Qatar. It is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.
All nuclear-related sanctions imposed on Iran were lifted after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear deal on July 14, 2015 and started implementing it on January 16.