Iran’s Oil-Output Costs to Quadruple in Coming Years, Paper Says
By Ladane Nasseri -
2012-07-12T08:42:29Z
Iran’s oil-production costs will more than quadruple in coming years, Donya-e-Eqtesad said.
The cost of producing each barrel will rise to $30 or more from $7 currently, the newspaper said, citing citing Gholamreza Manouchehri, an adviser to the head of National Iranian Oil Co. He didn’t give a timeframe for the increase.
Iran currently allocates $20 billion a year to develop fields and $10 billion on maintaining output, the report said. In the next decade, maintaining production will cost $50 billion, with a similar sum required for development, it said.
To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net
To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net
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