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Iran Targets 850,000 Barrels Oil From Shared Fields, Shana Says

Iran plans to produce 850,000 barrels a day from fields it shares with Iraq and Qatar by 2015, the director of combined planning at National Iranian Oil Co. said, according to the Oil Ministry website Shana.

While Iran is producing about the same amount of oil as Iraq from their shared onshore fields, it lags behind Qatar in producing from the oil layer of the shared offshore South Pars natural-gas field, Abdol-Majid Delparish was cited as saying by the website.

Neither Iran nor Iraq produces gas from their shared onshore fields, Delparish said. Iran produces 230 million cubic meters of gas a day from South Pars, while Qatar produces 430 million, he said.

Iran’s recoverable reserves are 154 billion barrels of oil and 33.5 trillion cubic meters of gas, according to the latest assessments, Delparish said on the website.

To contact the reporter on this story: Ayesha Daya in Dubai at adaya1@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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