Home / Oil & Energy / Oil & Companies News / Iran to increase Oil Output from Azar, South Azadegan Oilfields

Iran to increase Oil Output from Azar, South Azadegan Oilfields

Noureddin Shahnazizadeh said production of crude oil from South Azadegan will reach 170,000 b/d and Azar’s 65,000 b/d by the end of the calendar year.

He said, last Tuesday, that possible renewed sanctions on Iran would be costly, but not to the extent to worry officials.

‘[Probable] sanctions will increase our costs and cause [implementation of] our projects to last longer, but we are not worried,’ Nouroddin Shahnazizadeh said.

‘The oil production from the South Azadegan [oil field] has increased from 30,000 b/d to 100,000 b/d owning to domestic capabilities. Therefore we can still continue with development with the help of domestic capabilities,’ he added.

Shahnazizadeh said that ‘Sanctions are not good, but we are not worried and we don’t fear them,’ said. ‘We never welcome sanctions, but even if new sanctions grip the petroleum industry we will strongly and firmly continue our development activities, as we have already done.’

He said that European companies were engaged in talks with Iranian companies with a view to more cooperation.

PEDEC administers oil industry projects in the West Karoun area, which houses fields shared with neighboring Iraq. PEDEC is currently supplying up to 350,000 b/d of oil, which is expected to exceed 450,000 b/d by next March.
Source: NIOC – National Iranian Oil Company

Leave a Reply

Your email address will not be published. Required fields are marked *



Please enter the CAPTCHA text

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping