Iran’s oil production has increased to 3.4 million barrels per day (bpd), spokesman of the Iranian Oil, Gas and Petrochemical Products Exporters’ Union Seyyed Hamid Hosseini said.
“The latest reports show that Iran’s oil production has increased to 3.4 million barrels per day, while it was about 2.9 million barrels per day until recently,” Hosseini said.
Given that previously closed oil wells have been reopened and returned to the production cycle, Iran can increase its oil production to 3.8 million bpd, the spokesman said.
“If we seek to increase oil exports from 3.8 million barrels per day to 4.2 million stipulated in the 7th development plan, we need to invest an average of $25,000 per barrel of oil, but now, because these oil wells had been in production cycle previously, we have the opportunity to increase the oil production to 3.8 million barrels per day,” he explained.
Hosseini added that about 40,000 bpd have been added to the country’s oil production from the Sepehr and Jafir oilfields, which can help with the economic growth of the country.
