12/25/2017

Iran's oil output to reach 9m bpd in 20 years: Oil official

Economy - It is possible for Iran to raise the oil output by 9 million barrels per day (bpd) within a twenty-year development plan, according to a senior Iranian oil official.

Gholamreza Manouchehri, head of the Department for Development Engineering of the National Iranian Oil Company (NIOC), made the remarks in an exclusive interview with The Oil & Gas Year (TOGY).

Iran's current oil production stands at around 3.9 million bpd.

Based on the results of some 30 field studies carried out by international oil companies, many Iranian oil and gas fields, including both the developed and non-developed ones, have more reserves than Iran's previous expectations, Manouchehri said.

Iran is providing the best opportunities for international oil companies along with Iraq, the official said, adding that there are many unconventional oilfields in the world, like shale oil and gas fields in North America, but Iran is now having the best capacity in regard to conventional fields.

'Our new pattern for oil contracts is well-established and the international oil companies understand that this pattern will provide a proper framework for a long-term and win-win participation,' Manouchehri said.

 


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