The Iranian Minister of Oil, Javad Owji stated that the country’s oil production capacity has increase by 40% since two years.

This came after his meeting with his cabinet ministers and Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei . 

The minister said that this increase is due to the investment made in incomplete projects over the past two years. 

Owji said that the ministry has prioritized to increase the investments which can help growing the economy. 

“The country’s crude oil production stood at 2.2 million barrels per day (mmbbl/d) when I took over as oil minister, but the figure has now reached 3.1 mmbbl/d to 3.4 mmbbl/d,” he reported .

The minister indicated to his interest in gas projects especially the incomplete ones such as phases 14 and 11 of the South Pars (SP).

He explained that the country’s gas production has grown by 40 million cubic meters in the first five months of the current Iranian calendar year (starting March 21) thanks to investment compared to the same period in the previous year.