Iran Eyes 4.5 mln Barrels Per Day

Iranian Oil Minister Gholam Hossein Nozari has said that the Islamic Republic’s oil and gas output could reach 4.5 mln barrels per day of oil equivalent within the next two years. To reach this goal, the country needs $15 bln to develop new projects, the minister further pointed out.

Nozari also revealed that talks with France’s Total regarding the development of the South Pars gas field were ongoing but rising costs were a big factor.

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