Alwaght- Iran has added some 50,000 oil barrels per day to its oil production after President Seyyed Ibrahim Raisi on Friday launched Sepehr and Jufair oilfields in southwestern province of Khuzestan.
The president is in Khuzestan to follow up development of projects his administration approved for the province in the past two years.
The Oil Minister Javad Owji said that at the beginning of president Raisi’s administration, the daily production of oil from the oil fields in Khuzestan was 1.7 million barrels, and today, with the efforts of the oil industry workers, this figure has reached 2.7 million barrels per day.
"In this government, 132 unfinished oil projects worth $28.5 million have been completed and 50 new projects worth $48.5 million have been designed and are being implemented," he said.
He added that over the past two years of the administration's life, oil production has increased by 60 percent, daily natural gas production by 50 million cubic meters, oil refining capacity by 210,000 barrels per day, and gas refining capacity by 50 million cubic meters per day.
In January, Western media reported a major increase in Iran's oil exports, saying they reached five-year high.
"Iran's exports of crude oil grew by roughly 50 percent last year to a five-year high of about 1.29 million barrels per day, with the vast majority going to China, helping to prevent a sharp increase in prices triggered by conflict in the Middle East," a report by Nikkei Asia economic website said.
It added that Iran produced 2.99 million barrels of oil daily last year, 440,000 barrels more than in 2022, according to the International Energy Agency, which predicts a further rise of 160,000 barrels in 2024.
