News ID: 240401
Published: 0414 GMT March 18, 2019

Iran raises oil output from West Karun fields

Iran raises oil output from West Karun fields

There has been a steady rise in crude production at Iran's West Karun fields, said Oil Minister Bijan Namdar Zanganeh.

Oil production from West Karun oil fields has quintupled over six years, Zanganeh was quoted as saying by spglobal.com on Monday.

"The amount of oil production from West Karun fields in 2013 was 70,000 bpd. This amount has reached 355,000 bpd in the current Iranian year (started March 21, 2018)," the minister said.

In 2018, Iran said output from the main West Karun fields including Yadavaran, Yaran and Azadegan fields had hit 305,000 bpd, up from 120,000 bpd in 2017.

Despite US sanctions that have capped Iran's oil sales by restricting its oil customers, Zanganeh has said the country has not stopped raising output.

Iran crude production has averaged 2.72 mbd so far, according to S&P Global Platts estimates.

Iran's plans to make the Jask terminal operational in two years are on track, Zanganeh added.

"We hope that this terminal [Jask] will become operational in two years and for the first time Iran's oil will be exported through Makran [Gulf of Oman]," he said.

This will give the sanctions-hit oil producer an alternative outlet for its exports.

   
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