Iran has an intention to raise the national crude oil output by 140,000 barrels a day by March 2005. It was announced Monday by Iran?s Oil Minister Bijan Namdar Zangeneh.
"With the coming onstream of the Soroush and Nowrooz oil fields by the end of the current year, our production capacity will increase by 130,000 to 140,000 bpd," he said.
Iran's calendar year ends March 20, 2005.
The two offshore oilfields have combined reserves of 10 billion barrels of which around 1 billion barrels are recoverable.
Iran also plans to increase its production capacity by an additional 260,000 bpd with the commissioning of Azadegan, Darkhowein, Salman and Foruzan oil fields in the south.
Iran is the second biggest producer in OPEC with a current production capacity of 4.2 million bpd and a quota of 3.8 million bpd.
