Tehran - Deputy Petroleum Minister Roknoddin Javadi said that Iran's oil production in coming years will increase to 4.7 million barrels per day.
Concerning challenges facing Iranian oil industry in post-sanction era, Javadi said that among oil challenges in this period is getting back Iran's lost share in interantional oil market.
Following cancellation of rationing system in Organization of Petroleum Exporting Countries (OPEC) in 2013, similarity between different types of Iranian and Iraqi crude oil and Iraq's high flexibility in the market, has turned this country into a serious rival for Iran in the market.
The managing director of National Iranian Oil Company (NIOC) said that Iran has ensured its former and new customers tha it will meet their needs and in this concern it is necessary to increase the country's oil output and export.
Reaching the output target of 4.7 million barrel per day is among the goals of the Sixth Development Plan of the county, Javadi said, adding that if Iran's oil export increases to 2 or 2.2 million barrels a day on next year, it means that the country's export capacity has increased by another one million barrels a day.
During the sanctions era, Iran had produced around 2.8 million barrels of oil a day, of which one million barrels were exported and the rest consumed domestically.
Iran has already declared its intention to increase its production and export in post-sanctions era.
© IRNA 2016
