Southern regions produce 80% of Iran\'s oil

Senior Iranian oil ministry officials announced that Iran\'s oil-rich regions in the South produce around 3 million barrels of crude per day, accounting for 80% of the country\'s total 3.920mln bpd output.Head of the National Iranian South Oil Company Hormuz Qalavand said that about 110 million cubic meters of gas are also produced in gas fields operated by the company per day, Iran Daily reported. The figure constitutes 16% of total gas production of the country. The official put the region\'s daily production of gas condensate and naphtha at 120,000 barrels and 32,000 barrels respectively. He recalled that an oil well in Gachsaran produced 30,000 barrels to 40,000 barrels of oil in 1990 per day adding the drop in pressure in the oilfields and the fact that the oil wells of the region are in the second half of their lifespan were responsible for the decline in average daily crude output of each well to 2,000 barrels. Qalavand said that thanks to the efforts made by those involved in the oil industry, an increase in oil output in the region is expected to be higher than the reduction caused by the drop in pressure. Arvandan Oil and Gas Company, Central Regions Oil Company and Offshore Oil Company produced 160,000 barrels, 160,000 barrels and 600,000 barrels of oil per day, respectively. He stated that the largest gas injection project of the Middle East in underway in Aghajari, adding daily injection of 50,000 million cubic meters of gas into the oilfields will increase the oil output of the region from 126,000 barrels to more than 200,000 barrels per day.