Iran aims to increase crude output capacity to 4.7 million BPD within 4 years

 

Recently, Iran’s Deputy Oil Minister Amir Zamaninia announced the county’s intention to increase oil production to 4.7 million barrels per day within the next four years. Additionally he informed that estimated production could rise as much as 1 million if Iran was able to reach deals on the development of four of its oil fields with international companies.

He said in a conference in Paris, “We are striving — to be very cautious and not ambitious — for the next 3, 4 years we are planning to increase our production by about 700,000 taking our production to 4.7 million bpd.”

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