IFP Exclusive

Minister: Iran’s oil production capacity reached pre-sanctions level

Iran’s Oil Minister Javad Owji says the country’s crude production capacity has reached more than 3.8 million barrels per day (bpd), equaling the levels that existed prior to the imposition of tough American sanctions on the country’s energy industry.

In an interview with the Iran’s national TV on Thursday, Owji said the growth was achieved due to the “effective measures” taken to develop the country’s oil fields and overhaul the equipment installed there.

“In the field of natural gas, good measures were adopted by the Iranian National Gas Company (NIGC) and the National Oil Company (NIOC), which brought the daily gas production levels from the South Pars to 705 million cubic meters, the highest level, in the past winter.”

Asked to elaborate on the causes of the rise in the production capacity, he said, “We achieved high figures in sales of oil and natural gas condensates thanks to [the country’s] strong will, identification of new customers and markets, strong marketing, use of different methods in striking oil deals, employment of professional and committed human resources.”

The Ministry of Petroleum, he said, plans to further increase exports of crude, gas condensates, and other by-products in the year ahead.

IFP Editorial Staff

The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

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