Iran to increase refining capacity to 3.2 mln bpd within four years

TEHRAN, June 13 (KUNA) — Iran’s Deputy Oil Minister Abbas Kazemi announced on Monday that there is a USD-14-billion investment plan to increase refining capacity to 3.2 million barrels per day (bpd) within the next four years.
Iran will raise the refining capacity, which currently hits about 1.8 million bpd, to 3.2 million bpd by 2020, Kazemi said in a statement to the website of Iran’s petroleum ministry (Shana).
He added that his country has a plan to boost productivity of petroleum refineries and liquids by 70 percent.
He noted that the plan also aims to develop the quality of productivity in the coming years.
Meanwhile, Saeed Mahjoubi, an official at the National Iranian Oil Products Distribution Company (NIOPDC), said today that gas and oil production would increase in the region through developing the oilfields.
He added that the rig positioned at the Esfand oilfield near Sirri Island in Persian Gulf waters aims to raise oil and gas recovery from the field by drilling or repairing a number of shunt-in wells.
He pointed out that the rig was successfully positioned last May and it is expected to develop seven wells at the Esfand field to increase daily output to 10,000 bpd of crude oil and up to 10mcm/d of natural gas. (end)