Iran’s largest oil producer reports increase in output
Iran’s largest oil production company has reported a major increase in its daily output, a fresh sign the country’s petroleum industry is making progress despite the continued pressure on its sales and technology imports due to US sanctions.
The Karoon Oil and Gas Production Company (KOGPC) said on Wednesday that its total output from the six oilfields it controls in southern Iran had reached 1 million barrels per day (bpd).
Its CEO Hassan Shahrouyi said that natural gas and liquefied petroleum gas production by the company had also increased by 12% and 35%, respectively, compared to last year's figures.
Shahrouyi said that the KOGPC had carried out repair and expansion programs on dozens of wells in its major oilfields to be able to increase its oil production.
He said that output from the company’s oilfields had increased by 60,000 bpd in the second half of the calendar year that will end in late March, adding that the increase was a result of major projects, including the launch of a new desalination unit in Ahvaz Field and repair works in Mansouri oilfield, both located in the oil-rich Khuzestan province in southwest Iran.
The KOGPC is the largest of several oil firms controlled by the National Iranian South Oil Company (NISOC), a subsidiary of National Iranian Oil Company which is responsible for 3 million bpd of Iran’s total oil output.
The NISOC operates some of the world’s richest oil reserves in southern Iran and is key to the country's oil production and exports.
Iran has reported a steady increase in its oil exports in recent years despite being subject to an unprecedented regime of US sanctions which imposes heavy penalties on buyers of Iranian oil and restricts the country’s access to export revenues.
However, the sanctions have allowed Iran’s domestic companies to become increasingly involved in petroleum projects in the country, leading to a significant level of self-sufficiency in the Iranian energy sector.
Iran confirms it has started transiting Turkmen gas to Turkey
Power generated by Iran’s only nuclear plant at over $8bn: Report
OPEC+ to raise output for first time since 2022: Report
VIDEO | Press TV's news headlines
VIDEO | Yemen says ready to shoot down more US drones
VIDEO | Trump’s tariffs: A threat to the world economy?
VIDEO | Regenerative medicine
VIDEO | Columbia students protest ex-Israeli PM visit
US says prepared ‘to go to war’ with China
VIDEO | Arab summit and occupation project
VIDEO | Growing transatlantic rift
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
