Tag Archives: Iranian Ministry of Petroleum

Iran plans to increase its condensate production to reach 864.000 bpd within five years.

Iranian gas production will reach 1.3 billion cubic meters per day and production of gas condensate will reach 864.000 bpd in the next five years.

Total and Iran reached a preliminary agreement this year to build three petrochemical plants.

Iran exports almost half of its annual petrochemical output to China.

South Korea. one of Iran'.s major Asian clients. mainly purchases an ultra-light oil. also known as condensate. from Iran.

Azar holds 2.5 billion barrels of crude oil and is one of the joint fields with Iraq.

Iran is ready for any measure contributing to stability in the oil market.

Shell submitted a proposal for developing Azadegan and Yadavaran oilfields south of Iran last month.

NIOC plans to employ enhanced oil recovery methods to boost the extraction rate in fields by 35%.

Iran has been producing around 3.8 million bpd of oil in recent months.