NIOC Says Iran Crude Output to Hit 4mbd by March

NIOC Says Iran Crude Output to Hit 4mbd by March

Managing Director of National Iranian Oil Company (NIOC) Ali Kardor says Iran's crude oil production will reach 4 million barrels per day by the end of the current Iranian calendar year to March 20 2017, Shana news agency reports.

Addressing a press conference held on the occasion of the anniversary of the victory of the Islamic Revolution, the official said the country's crude oil and condensate exports are expected to reach 3 million barrels by the end of the year. 

Iran exported a maximum of 0.9mbd to Europe during December, he said. 

The NIOC chief said that Iran's total natural gas output has reached 840 mcm/d from 490mcm/d in 2013. 

He also said that Iran's production of natural gas from the supergiant South Pars Gas Field, which Iran shares with Qatar in Persian Gulf waters, stands at 480mcm/d. 

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