Iran's crude oil production reached ٣ million and ٧١٥ thousand barrels per day in Mehr ١٤٠٥, which is an increase of ٢٨٥ thousand barrels compared to Shahrivar ١٤٠٣, representing a growth of ٨.٣ percent. Additionally, this figure has increased by ٥٥ thousand barrels per day compared to Mehr ١٤٠٤. This significant growth has occurred amid ongoing sanctions, financial constraints, and security tensions.
Effective measures to increase production
Key measures during this period include activating existing capacities, revitalizing low-yield wells, and developing shared fields. An emergency plan to increase crude oil production by ٢٥٠ thousand barrels has been defined with a budget of ٣ billion dollars, of which ٧٠ thousand barrels per day of the target has been achieved so far. Financing for this plan includes ٨٠ percent from the National Development Fund and ٢٠ percent from the internal resources of the National Iranian Oil Company.
Read more: Achievement of over ١٠٠ percent of oil production commitments at Karun Oil and Gas Company
Field development contracts and infrastructure sector
Development contracts for the Azadegan, Azar, Changuleh, and Band-e-Karkheh fields have been signed with a total investment of about ١٣ billion euros. In the infrastructure sector, private sector contracts have been concluded to create ٣١٥ thousand barrels per day of new processing capacity, bringing the total processing capacity allocated to this sector to ٤٣٠ thousand barrels per day. Additionally, ١٢٩ drilling rigs are active in the country, and a contract for the provision of services for ٢٠ new rigs worth about ١ billion dollars for drilling ٢٧٠ wells has been signed.
The board of trustees of the Ministry of Oil has emphasized the continuation of production and development programs, strengthening oil trading and sales policies, rebuilding damaged points, collecting flare gases, and accelerating projects ready for inauguration. This trend reflects a serious commitment to increasing oil production and turning the country's capacities into an opportunity for construction.
The continuation of this path depends on coordination among production, development, processing, and sales, sustainable financing, and leveraging the capabilities of domestic specialists. Factors that can convert the created capacity into sustainable production and reliable income for the country's economy.
Read more: Oil price reached nearly ١١٠ dollars · Mohammad Meshkinfam accelerates the reconstruction of oil depots in Tehran and Karaj
