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Oil Output at 3.9m bpd in 2017

Oil Output at 3.9m bpd in 2017Oil Output at 3.9m bpd in 2017

As soon as maintenance operations in oilfields' installations are completed, the country's oil output can easily exceed 4.5 million barrels a day, chief executive officer of the National Iranian Oil Company said on Sunday. "NIOC's production stood at 3.9 million bpd in 2017, indicating a 120,000-bpd rise compared to 2016," Ali Kardor was also quoted as saying by Shana.  According to the official, Iran has maintained production level at 3.9 million bpd, but can reach 4.5 million bpd in the near future. "NIOC has increased its extraction from West Karun oil block that it shares with Iraq by 100,000 bpd," Kardor said, adding that plans are underway to boost output from South Azadegan Oilfield by 50,000 bpd by the fiscal yearend (March 20, 2019).  Kardor noted that the development of Jofeir, Sepehr and West Paydar oilfields in Khuzestan Province as well as Aban Oilfield in the western Ilam Province will be carried out by contractors and NIOC will play no role in providing the much-needed equipment. 

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