'Iran's oil output must reach 5.2m bpd'

Iranian Oil Minister Rostam Qasemi says the country's crude oil output should increase to 5.2 million barrels per day by 2015 through exploiting joint oil fields.

“By the end of the Fifth Development Plan (2010-15), the country's oil production must increase to 5.2 million barrels per day and this should happen from the country's joint fields," ISNA quoted Qasemi as saying.
The official added that Iran holds more than 600 billion cubic meters of oil, of which 158 billion barrels are recoverable.
Last week, Managing Director of the National Iranian Southern Oil Company (NISOC) Hormoz Qalavand put the country's current oil output at 3.92 million barrels per day.
Qalavand said that about three million barrels of Iran's oil output are currently produced in the oil-rich regions of southern Iran.
He added that Arvandan Oil and Gas Company and the Central Regions Oil Company produce 160,000 barrels each while the Iranian Offshore Oil Company pumps out a daily 600,000 barrels of oil.
Earlier, Managing Director of the National Iranian Oil Company Ahmad Qalebani said that Iran's crude output capacity would climb by 150,000 barrels per day this year once a number of new projects become operational.
Iran is the second largest oil exporter of the Organization of Petroleum Exporting Countries (OPEC).
Source: Press TV