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
Russian agency: Russia will conduct a nuclear test if the US does
Al-Nakhalah: We are the rightful owners, and we must fight to retrieve our rights
Al-Nakhalah: The enemy and its allies must know that we can never surrender to their terms and diktats after all the sacrifices made
Al-Nakhalah: The prisoner exchange clause can be completed in the next few days, and thus we will have pulled the [explosion] fuse and removed the enemy's justifications for aggression
Al-Nakhalah: The Resistance has expressed its willingness to negotiate on the basis that there are items that can be dealt with positively, the first of which is the prisoner exchange item
Al-Nakhalah: Trump's plan entails the Palestinian people's declaration of complete surrender to the enemy
PIJ Secretary-General, Ziyad al-Nakhalah, in an address aired on Al Mayadeen: The Resistance is engaging in a fierce negotiating battle under the so-called Trump plan
Russian Federation Council approves joint military cooperation agreement with Cuba
Al-Nunu: Today, the lists of prisoners required to be released, the agreed-upon criteria and numbers, were exchanged
Al-Nunu from Sharm el-Sheikh: Negotiations focused on mechanisms for implementing an end to the war, the withdrawal of occupation forces from the Gaza Strip, and the exchange of prisoners

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

Tucker Carlson speaks at a memorial for Charlie Kirk, Sunday, September 21, 2025, at State Farm Stadium in Glendale, Arizona (AP)

Tucker Carlson: Israeli officers gave orders on Iran inside Pentagon

  • Politics
  • 2 Oct 2025
A Hamas fighter in combat fatigues stands before the ceremony for the handover of Israeli captives to the Red Cross in Nuseirat, central Gaza Strip, Saturday, February 22, 2025 (AP)

Hamas responds to Trump plan, backs Gaza withdrawal, exchange

  • Politics
  • 3 Oct 2025
Mossad’s secret role in Aldo Moro’s 1978 murder revealed

Mossad’s secret role in Aldo Moro’s 1978 murder exposed

  • Politics
  • 5 Oct 2025
Al-Quds Brigades strike a command and control center north of Khan Younis, southern Gaza Strip, in an undated screengrab from the al-Quds Brigades military media

Gaza resistance announces major operations against Israeli forces

  • Politics
  • 1 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Retired Israeli General Brik says Israel has reached point of no return.
Politics

Retired Israeli General Brik: 'Israel has reached point of no return'

Depleted by foreign wars, US seeks to re-arm for another confrontation
Politics

Depleted by foreign wars, US seeks to re-arm for another confrontation

Gaza’s newborns gasp for life as hospitals collapse amid Israeli war
Health

Gaza newborns gasp for life, share oxygen masks amid collapsed system

UK arms exports to 'Israel' reach record high despite ban calls
Politics

UK arms exports to 'Israel' reach record high despite ban calls

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