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Iran to Boost Output at Oil Fields Run With Saudis, Times Says

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Jan. 1 (Bloomberg) -- Iran plans to boost output from oil fields it shares with Saudi Arabia, the Tehran Times said, citing Iran Offshore Oil Co. Managing Director Mahmoud Zirakchianzadeh.

Iran plans to increase production at the Forouzan oilfield by 40 percent by March 20, 2013, and aims to sign a contract with international oil companies to develop its Esfandiar offshore oilfield, which it shares with Saudi Arabia, the newspaper cited Zirakchiyanzadeh as saying.

To contact the reporter on this story: Wael Mahdi in Khobar, Saudi Arabia at wmahdi@bloomberg.net

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

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