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Iran may increase gas production to 1.1 bln cubic meters daily by 2017 — official

July 23, 2015, 11:46 UTC+3
Iran plans to increase production by 1 mln bbl of oil daily within one year after sanctions’ lifting
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© AP Photo/Vahid Salemi

VIENNA, July 23. /TASS/. Iran may increase gas production volumes up to 1.1 bln cubic meters of natural gas daily by 2017, Iran’s Deputy Oil Minister Amir Hossein Zamaninia said on Thursday.

Production volume is currently at the level of 700 mln cubic meters of gas daily, he added.

Zamaninia said he is confident Iran will be able to maintain achieved production level later on.

The official noted that the EU always consumed Iranian oil. Europe may be a market for the Iranian gas in the mid-term and long-term, he added.

Iran will not urge OPEC to increase oil production limits

According to Zamaninia, Iran expects OPEC will make advances within the oil production quotas framework.

The deputy minister said Iran expects OPEC will be capable of making advances towards Iran within the framework of effective oil production quotas. Iran plans to increase production by 1 mln bbl daily within one year after sanctions’ lifting, he added. Sanctions against Iran’s oil and gas sector may be lifted in late October, the deputy minister said.

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