Iran plans to produce 4 to 7 million barrels a day by 2020

TEHRAN, November 28. Iran plans to produce 4 to 7 million barrels of oil per day by 2020. This is stated in the presentation, presented to international investors at the conference on new contracts in the oil and gas industry, held in Tehran.

Prior to the introduction of sanctions against Teheran for developing a nuclear program, oil production in Iran amounted to about 4 million barrels per day. In this case, the export was about 2.5 million barrels.

According to expert estimates, at present, Iran, which accounts for about 9.3% of proven oil reserves and 18.2% of the gas in the world, daily produces about 2.8 million barrels per day.

After the lifting of sanctions that may occur in the next year, Tehran intends in the next few months to increase production by 500 thousand barrels a day.