MNA reported that the Iranian Offshore Oil Company has managed to boost output at oilfields to a great extent.
Mr Mahmoud Zirakchianzadeh MD of IOOC said that output at the Siri and the Salman regions have been increased by 25% and 50% respectively. Meanwhile output at the Doroud region will be increased to 33% from 23%.
Mr Mansour Ghiyabi Hayat an official with the IOOC said that IOOC will drill 17 new exploratory oil wells in the Persian Gulf in order to locate and identify more probable reserves. A Heads of Agreement has been signed with PetroIran Company in this regard.
Recently, Mr Zirakchianzadeh said that Iran has prepared oil development plans with an estimated cost of USD 14 billion related to oilfields located in the Persian Gulf. During the past two years, as much as USD 20 billion worth of deals have been signed. Some USD 14 billion worth of new deals have been prepared and will be offered to contractors.
He said that the deals are related to Farzad A & B Soroush, Esfandyar, Tossan and Alfa fields. Iran has attached priority to boosting gas production capacity at its joint oilfields with Qatar and Saudi Arabia. Iran has the world's fourth largest reserves of recoverable oil after Venezuela, Saudi Arabia and Canada. With 34 trillion cubic meters of natural gas reserves, Iran has the world's second largest natural gas reserves after Russia.