Azerbaijan, Baku, August 13 /Trend/
Iran will increase oil production from the Forouzanjoint oil field with Saudi Arabia by 10,000 barrels of oil per day this current solar year (started on March 20, 2011), Mehr News Agency quoted official in the National Iranian Oil Company Saeed Azkat as saying.
"At present, 90 percent of the reconstruction plan of four offshore platforms in the joint field with Saudi Arabia has been completed," he said. "The oil production will be increased by 10,000 barrels of oil per day."
The development plan of the Forouzanjoint oil field aims at increasing the production up to over 300 million barrels of oil in 25 years while the pipelines pump 250 million cubic feet of gas per day to Kharg Island.
Iran has OPEC's second-highest oil output, and ranks second in the world in terms of natural gas reserves after Russia.