Iran to Boost Production in Persian Gulf Oil Fields

Managing Director of the National Iranian Offshore Oil Company (NIOOC) Mahmoud Zirakchianzadeh announced that the country plans to increase its oil output in Persian Gulf oil fields.

Zirakchianzadeh reiterated that the NIOOC is considering implementation of new plans to increase oil production from the Persian Gulf oil fields of Reshadat, Forouzan and Hendijan.

“When these new plans become operational by the end of the current (Iranian calendar) year, Iran’s overall crude production capacity in the Persian Gulf will rise by about 100,000 bpd,” he said.

According to the development plan of the Reshadat oil field, NIOOC will drill five developmental wells. The company is also building the undersea pipeline of the field and supplying electricity to its oil production platform.

The Reshadat oil field is expected to produce 40,000 bpd of crude oil after the second phase of its development plan is complete by March 2013. Final output of the offshore field is 76,000 bpd which will be achieved next year. The field also known as Rostam was discovered in 1965, 110 kilometers southwest of Lavan Island in the Persian Gulf.

The Reshadat oil field is expected to produce 40,000 bpd of crude oil after the second phase of its development plan is complete by March 2013. Final output of the offshore field is 76,000 bpd which will be achieved next year. The field also known as Rostam was discovered in 1965, 110 kilometers southwest of Lavan Island in the Persian Gulf.

Iran has made giant advancements in the oil drilling industry. Iranian officials announced recently that Iran has earned some $300 million from drilling 30 oil wells in Turkmenistan waters in the Caspian Sea during the last 5 years.

They said that the country has prepared comprehensive plans to carry out drilling operations and export technical and engineering services to different countries.