Iran Targets 5 Million Barrels Oil a Day, Tehran Times Reports

Iran plans to produce 5 million barrels of oil a day by 2015 and 1.47 billion cubic meters of natural-gas, the Tehran Times reported.

The Middle Eastern nation plans to add 36 drilling rigs for a total of 134 onshore and offshore by March 2014, the newspaper said, citing National Iranian Oil Co.’s managing director Ahmad Qalebani.

Iran produced 3.56 million barrels a day of oil in November, according to data compiled by Bloomberg. Iran’s OPEC governor Mohammad Ali Khatibi said earlier this year output would reach 5 million barrels a day by 2010.

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