Iran to explore up to 600 mm barrel crude oil in 4th plan

Nov 09, 2004 01:00 AM

The amount of explored crude oil will rise to 600 mm barrels in the fourth five-year economic development plan (2005-10) from 500 mm barrels at present, showing no change.
Iran’s crude oil production capacity will rise by more than 200,000 bpd to 5,473,000 bpd in 2010 a year from 4,503,000 bpd a year in 2005. Iran’s current crude production capacity stands at 4,279,000 bpd.

Average crude oil production of Iran would also show more than 200,000 bpd increase to 4,456,000 bpd in 2010 from 3,771,000 bpd in 2005, The average crude output in 2005 would show decrease compared to 3,850,000 bpd output at present.
Iran’s crude oil for direct and buy-back based exports would reach 2,780,000 bpd in 2010 from 2,200,000 bpd in 2005. Direct crude oil exports revenues would also rise to $ 14.73 bn in 2010 from $ 12.515 bn in 2005.

Source: Islamic Republic News Agency
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