Development of Joint Oilfields, Iran’s Priority: Minister
TEHRAN (Tasnim) – Iran’s oil minister said development of the country’s joint oilfields will be high on the agenda of his ministry in the new Iranian year, which began on March 20.
One of the oil ministry’s top priorities is developing the oilfields that Iran shares with its neighbors, Bijan Namdar Zanganeh told Tasnim on Wednesday.
He said efforts are underway to accelerate the development process of the oilfields that have been lagging behind.
According to the minister, a longer-term plan has been also formulated to increase the production of crude from the joint oilfields by one million barrels per day.
The administration has set a target of boosting the crude oil output to 4 million bpd, both in the dependent and shared oil projects, he added.
The other items in the agenda for the current Iranian year include more crude exports, a rise in the overall refining capacity, development of gas delivery projects, and promotion of the petrochemical industry, Zanganeh noted.
Iran shares a number of oil and gas fields with its Arab neighbors in west and southwest.
In February 2015, Shana reported the start of oil extraction from the Yadavaran oilfield, shared by Iran and Iraq.
“The field will be inaugurated in the near future as production of 85,000 barrels a day has been secured and all of its three production trains are in line,” it quoted an official as saying.
