Iran oil production to increase 1 million bpd by 2015 - Official

Head of National Iranian Oil Company (NIOC) Ahmad Qalebani said Iran will increase its crude oil production 1 million barrels per day by the year 2015, IRNA reported.

"By the end of fifth Five-Year Plan (2015), Iran’s production will reach 5 million and 100 thousand barrels a day, which has an important role in its status in OPEC," said Qalebani.
Speaking to reporters on Tuesday evening, Qalebani said Iran’s status in OPEC depends on two issues of production capacity and oil reserves in the country.

He said Iran is currently producing about 4 million barrels a day which will increase by 50 thousand barrels at the end of current Iranian year .


/Trend/