Rouhani: Iran to increase oil, gas production

GMT 05:45 2014 Sunday ,31 August

Arab Today, arab today Rouhani: Iran to increase oil, gas production

Oil, gas production
Tehran - FNA

 Iran's President Hassan Rouhani Saturday voiced satisfaction in the progressive trend of increasing oil and gas production in the country, and pledged to do his best to continue this path to boost the country's exports revenues.
Addressing a press conference, President Rouhani hailed the Iranian oil ministry's managers and staff for their unsparing efforts to produce and export more crude in a bid to boost the country's revenues, and called on relevant officials to utilize entire capacities and potentials to materialize the country's economic objective regardless of sanctions.
The president further said that 100 billion cubic meters of natural gas will be added to production capacity of the country this year and this trend will continue in next year too.
"Also, we have plans to exploit the joint gas and oil fields with the neighboring states," President Rouhani added.
The South Pars gas field, divided into 28 phases, is located in the Persian Gulf on the common border between Iran and Qatar. The field is estimated to contain 14 trillion cubic meters of gas and 18 billion barrels of condensates.
The field covers an area of 9,700 square kilometers, 3,700 square kilometers of which lie in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, i.e. North Dome, are located in Qatar's territorial waters.
Earlier this month, Iranian Oil Minister Bijan Namdar Zanganeh said that Iran is to raise its oil production by 700,000 barrel per day (b/d) over the coming three years.


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