Ahmed Qalebani, Director General of the Iranian National Oil Company, said that oil and gas extraction is being carried out according to plan, although oil extraction had a slight drop, Iran News reports.
Qalebani noted that crude-oil extraction dropped due to lack of financing of development of oil fields. Measures are being taken to increase extraction in 2012.
Iran extracts 4 million barrels of oil daily, compared 5 million barrels daily planned in the 5-year program of 2011-2015. Qalebani ordered the extraction rate to be increased to 5 million barrels daily by 2014.
The director general said that Iran will increase gas extraction by 10% in 2011, compared with 2012.
Exploitation of the 12th and 15th to 18th phases of the South Pars project will start in 2012. By the start of 2015 Iran will reach extraction of 250 million cubic meters daily. The current output is 620 million cubic meters. Gas extraction is expected to reach 1 billion cubic meters by spring 2015.
