Iran Can Raise Oil Output By 1 Million bpd In Three Months: NIOC Official
On August 16, new Iranian Oil Minister Bijan Namdar Zanganeh said Iran’s oil production must exceed four million bpd for the OPEC member to tackle US-engineered sanctions.”
A senior official at the National Iranian Oil Company (NIOC) says Iran can increase its crude oil production by at least one million barrels per day (bpd) within three months.
“Iran can, under a crash program, raise its crude oil output by at least one million barrels per day in less than three months by applying Enhanced Oil Recovery (EOR) techniques,” Director for Research and Technology at NIOC Mohammad Ali Emadi said on Tuesday.
“Given the 25-percent average recovery rate in [Iran’s] oil reservoirs, it will be possible to reach the potential oil production ceiling of the country,” he added.
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