Iran eyes production rise

Oil rig West-Africa09 September 2013, News Wires – Iran is looking to boost production at an offshore field to 100,000 barrels per day of oil by early next year, according to a report.

Production at the Forouzan field, currently at between 20,000 and 40,000 bpd, will be sharply increased by the addition of two more production platforms, Reuters reported, citing a Farsi statement from Oil Ministry news website Shana.

Gas production at the field is also set to increase by more than 250 million cubic feet per day.

Shana reported Amir Saeed Najafi, deputy head of Iranian Offshore Engineering & Construction (IOEC), as saying the contract to build the two platforms had gone to a foreigner partner, which he did not name.

A European Union court ruled last week that the EU shouldlift current sanctions on IOEC as well as several banks and a shipping company.

The Forouzan field was one of a number destroyed by the US Navy in the Iran-Iraq war of 1980-88.

– Upstream

About the Author