Iran aims to double Oil and Natural gas production

Iran’s daily crude production capacity will rise to seven million barrels per day and its natural gas production to 1.565 billion cubic meters by 2014, said Deputy Oil Minister Gholam-Hossein Nozari here on Monday.

Addressing the 11th international oil and gas conference dubbed ‘Recent Developments in the World’s Oil and Gas: Challenges and Opportunities’, Nozari said National Iranian Oil Company now has the capacity to produce about 4.3 million barrels per day oil and 500 million cubic meters per day natural gas for sale in the Asian, west European and African markets.

IRNA