ALWAGHT- Iran's oil minister announced that the country's crude production is projected to reach 4 million barrels per day (bpd) by the end of the current Iranian calendar year, concluding on March 20, 2025.
Speaking at a joint news conference with Government Spokesman Ali Bahadori Jahromi and Head of the Department of Environment Ali Salajeqeh, Javad Owji announced that gas production has increased by 53 million cubic meters per day under the administration of the late President Ebrahim Raisi.
Owji highlighted that gas storage capacity has risen by one billion cubic meters and $23 billion has been invested in developing joint oilfields.
Additionally, he noted that 153 projects in both the upstream and downstream sectors, valued at $34 billion, were initiated during the late president's administration.
In his remarks, Owji also mentioned Iran's gas extraction from the South Pars Gas Field, shared with neighboring Qatar, stating that Iran extracts 100 million cubic meters more gas from the field than Qatar. Furthermore, he announced that Phase 11 of the South Pars Gas Field became operational after 20 years.
