BAKU, Azerbaijan, November 21. Iran intends to increase crude oil production by 200,000-250,000 barrels per day by the end of the current Iranian year (March 20, 2025), Iran's deputy oil minister and executive director of the National Oil Company, Hamid Boord told local media, Trend reports.
According to him, the increase in crude oil production will affect the growth of oil exports and production of oil products.
Boord added that Iran's crude oil production has increased by 60,000 barrels per day over the past three months. However, it has obligingly carried out some maintenance work during this time.
The official added that the highest increase in crude oil production has been recorded in the National Company of Southern Oil Zones and Central Oil Zones Company.
Meanwhile, Iran's daily crude oil production is 3.6 million barrels.
Iran exported crude oil and gas condensate worth $27 billion during seven months of the current Iranian year (from March 20 through October 21, 2024).
To note, a total of 74 oil fields and 22 gas fields are currently operating in Iran. There are 37 oil fields in the territory of the National Company of Iran's Southern Oil Zones, 14 in the territory of the Iranian Central Oil Zones Company, 5 in the territory of the Arvandan Oil and Gas Production Company, and 18 in the territory of the Offshore Oil Company. Additionally, the South Oil Zones National Company of Iran operates 5 gas fields, the Central Oil Zones Company operates 13, the Pars Oil and Gas Company operates 1, and the Offshore Oil Company operates 3.
Iran's total hydrocarbon reserves are 1.2 trillion barrels. Iran can produce 340 billion barrels of this gas with existing technological equipment. Iran can use about 30 percent, while 70 percent remains unused underground.
