Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: One was killed, another injured in a raid by an Israeli drone on the city of Khiam in South Lebanon
London views possibility of setting fire to tanker in port of friendly country to Russia to damage port infrastructure, initiate an international probe: Moscow
One of London's scenarios involves setting up accident with 'undesirable' tanker in one of the bottlenecks of maritime communications: Russian foreign intelligence agency
London plans to organize major sabotage with tankers to declare transportation of Russian oil to international shipping: Russian foreign intelligence agency
UK intelligence agencies plan to use NATO allies to launch massive raid on 'Shadow Fleet': Russian foreign intelligence agency
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.

Iran's oil production capacity records a 40% jump: Oil minister

  • By Al Mayadeen English
  • Source: Agencies
  • 3 Sep 2023 23:18
3 Min Read

A noteworthy advancement in Iran's energy industry highlights a 40% growth in the nation's oil production capability within the last two years.

  • x
  • Iran’s Oil Minister Javad Owji arrives at the 8th OPEC International Seminar in Vienna, Austria, July 5, 2023. (AFP)
    Iran’s Oil Minister Javad Owji arrives at the 8th OPEC International Seminar in Vienna, Austria, on July 5, 2023. (AFP)

Iran’s Oil Minister Javad Owji announced that the country's oil production capacity has increased by 40% over the past two years.

This development follows a recent meeting between Iran's President and cabinet ministers with Iranian leader Sayyed Ali Khamenei, who emphasized the need for increased investments to boost oil production.

The 40% increase in production capacity is the result of investments made in ongoing projects during this period. The Oil Ministry has reportedly prioritized its projects, focusing on those that contribute to economic growth.

When Minister Owji assumed office, Iran's crude oil production was at 2.2 million barrels per day (bpd), and it has now reached between 3.1 million bpd and 3.4 million bpd. Additionally, gas projects like phases 14 and 11 of the South Pars field have been prioritized, leading to significant growth in gas production, which has been vital for Iran's energy sector.

Related News

Iran not to tolerate any breach of its rights in Arash field: Minister

Iran, Venezuela sign agreements on oil, gas

Phase 11 of the South Pars field, inaugurated by Iranian President Ebrahim Raisi, is expected to further contribute to Iran's gas production capacity. The Oil Minister also mentioned that despite facing challenging sanctions, Iran's gas output surpasses that of its neighbor, Qatar, which shares the South Pars field.

An explainer:  South Pars/North Dome field

It is worth noting that the South Pars/North Dome field is a natural gas condensate field located in the Gulf. The field is shared between Iran and Qatar and is the world's largest natural gas field, holding 51 trillion cubic meters of in-situ natural gas and around 50 billion barrels of natural gas condensates.

South Pars Phase 11 will produce 15 million cubic meters of gas per day before raising its output to 56 million cubic meters of gas, 50,000 barrels of gas condensate, and 750 metric tons of sulfur per day.

The gas from South Pars Phase 11 will be transferred to the onshore refinery of Phase 12, where extracted resources will be processed and transferred into Iran's national gas network.

Reports indicate that the 3,200-ton platform was transferred after buying a crane ship from Russia, which experts believe is an unprecedented and exceptional move.

Read more: Iran signs $80bln worth of oil deals with foreign investors: Tehran

  • Javad Owji
  • Oil Production
  • South Pars
  • Iran

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS