Oil production at West Karoun doubles

More than 305 thousand barrels of oil was produced per day at West Karoun oilfields in southwest of Iran over the month of Dey, i.e. late December to late January; nearly double as much as last year production over the same period, reports Reuters.

Iranian Oil Minister, Bijan Zanganeh, says that probably OPEC members will stick to the production limits through 2018. Mr Zanganeh had already warned OPEC members that oil prices beyond 70 USD per barrel will increase Shale oil output.

According to the report, gas production at South Pars gas field, has reached 553 million cubic meters during the month of Dey, which is 83 million cubic meters more than the same period last year.

South Pars is the world’s largest gas field, where the French Total has signed a development deal.

See the original article: Oil production at Iran’s West Karoun nearly doubled in the past year: Zanganeh