Iran, Iraq to Develop Two Oilfields
Iran and Iraq are working on developing two oilfields, Naft Shahr and Khorramshahr, on their mutual borders.
Iran and Iraq are working on developing two oilfields, Naft Shahr and Khorramshahr, on their mutual borders.
Iran exported 300,000 barrels of gas condensate from a new phase of the South Pars field.
Iran has invested around $11 billion to complete the new phases.
Iranian authorities have considered the poor safety measures and the aging infrastructure to be the main reasons behind the explosion.
South Pars has a production capacity of around 110 mcm/d.
The production from Iran’s West Karoun oilfields have increased, reaching 300,000 b/d.
Iran achieved its goal of self-sufficiency after inaugurating the third phase of the Persian Gulf Star refinery, with a production capacity of 45 million liters of petrol per day.
Iran will stand against US sanctions considering them “fully illegal”, Bijan Zanganeh, Iranian Oil Minister, said on January 10, announcing that Tehran would not comply with the sanctions
The waiver will allow Iraq to continue importing electricity from Iran as the main Iraqi power plants depend on Iranian natural gas. Besides, Baghdad’s power generation is not enough to ensure domestic supply.
Iran plans to boost gas production from the South Pars field, the world’s largest gas field, to 630 million cubic meters per day (mcm/d) up from 580 mcm/d by mid-March.