Iran to Boost Crude Oil Production Capacity Early in 2012

TEHRAN, April 30(FNA)- Iran plans to increase its crude production capacity by 100,000 barrels a day by the end of the current Iranian calendar year (March 2012), a senior Iranian oil official announced.
Managing-Director of the National Iranian Oil Company (NIOC) Ahmad Qalebani said on Friday that Masjed Soleiman, Yadavaran, Mansouri and Hengam oilfields are the main four drilling projects that will contribute to the hike.

Oil was struck for the first time in the Middle-East at Masjed Soleiman in Khuzestan province some 102 years ago. More than one billion barrels of oil have been drilled from the oilfield so far.

The Yadavaran oilfield is estimated to have 17 billion barrels of reserves. Production is expected to reach 300,000 barrels per day over two phases.

Mansouri oilfield is located about 60 kilometers north of the Persian Gulf and near the southwestern city of Ahvaz.

Hengam joint oilfield, discovered in 1975, contains almost 700 million barrels and is located between Iran and Oman in the Strait of Hormuz.

Iran shares 18 oil and gas fields with neighboring countries, including Oman, in the strategic oil-rich region of the Persian Gulf.

Last year Qalebani had said that the country has a comprehensive plan to accelerate implementation of oil and gas projects in shared onshore and offshore fields.

He noted that the company intends to accelerate implementation of the upstream projects, to develop shared fields and to increase output.