Iran will reach an oil production
rate of 4.5mn barrels per day (bpd) within five years, Ali Kardor, the
managing director of the National Iranian Oil Company (NIOC), said on
Sunday according to the oil ministry news site Shana.
Iran has been producing around 3.8mn bpd in recent months.
Iranian gas production will reach
1.3bn cubic metres per day and production of gas condensate will reach
864,000 bpd in the next five years, Kardor said.
The boost in oil production will come
from an increase of 420,000 bpd from the West Karoun oil field and an
additional 280,000 bps from oil fields in central and southern Iran as
well as the Falat Ghare oil company, Kardor told Shana.
Oil exports are expected to reach up to 2.5mn bpd within five years, Kardor added.
The increase in gas production is expected to come from South Pars, the world’s largest gas field, according to Kardor.