Tehran, IRNA - Iran’s Oil Minister Javad Owji says that the Islamic Republic is producing about 3.2 million barrels per day (bpd) of crude oil.
Owji made the remarks on Sunday in a meeting in Tehran, adding that Iran’s production of crude oil will surpass 3.3 million bpd by late August.
Referring to the Ministry's plans for investment in oil and gas industry projects, up to the end of the current Iranian calendar year, semi-finished civil projects valued at $15 billion will be operational.
He pointed out that 700 million cubic meters out of one billion cubic meters of gas produced in Iran are supplied from South Pars gas field in the Persian Gulf.
Some 50% of Iran's gasoline is produced from this gas condensate field, he further noted.
Prior to this, Deputy Oil Minister Mohsen Khojastehmehr had said that Iran is expected to produce as much as 3.5 million bpd by late September despite tough Western sanctions on the country.
