Iran to increase crude from joint Iraq fields by 200,000bpd

Iran will increase oil production from joint fields with Iraq by a daily volume of 200,000 barrels, says minister.

Iranian Petroleum Minister Bijan Nadar Zangeneh has revealed plans for a daily increase of 200,000 barrels of crude oil from the country’s western joint fields with Iraq.

Oil production from the joint fields will rise by 200,000 barrels per day (bpd) within eight months and surge to 700,000bpd in the years to come, IRNA quoted Zangeneh as saying on Monday.

Iran has five joint fields with Iraq, which include North Azadegan, South Azadegan, North Yaran, South Yaran and Yadavaran; two of which, i.e Azadegan and Yadavaran, reportedly hold the biggest reservoirs of Iranian oil.