Managing-Director of the National Iranian Offshore Oil Company (NIOOC) Mahmoud Zirakchianzadeh announced that Iran will increase oil production from the Hengam joint oil field to 30,000 barrels per day (bpd) when the drilling of the fourth well is over.
He stated that the field is currently producing more than 22,000 bpd of oil.
"Three wells have been drilled and made operational in Hengam field so far and the fourth well of this offshore field is expected to become operational within 10 days," he stated.
Zirakchianzadeh stated that a total of 10 wells would be drilled and made operational for the complete development of the field.
Hengam oil field is located about 45 km off Iran's Qeshm Island in the Persian Gulf and straddles the common sea border with Oman.
Iran began early production from the joint field in September 2010 by producing 10,000 bpd of light crude oil.
Iran shares oil and gas fields with most of its neighbors, including Iraq, Kuwait and Persian Gulf littoral countries, Qatar and Oman.
Earlier this year, senior Iranian oil officials announced that the National Iranian Oil Company (NIOC) plans to boost oil extraction in joint fields from the current 240,000 to 950,000 barrels per day.
Member of the NIOC Board of Directors Abdolmohammad Delparish said in January that plans are already underway to boost the output to 950,000 barrels per day by 2015 (end of the fifth five year development plan).