Iran's daily crude oil production capacity has reached 3 million and 715 thousand barrels in October 2026, showing an increase of 285 thousand barrels compared to September 2024. This increase is equivalent to 8.3 percent and has been achieved under sanctions and financial and technological restrictions.
Measures to Activate Capacities
Among the main measures during this period are the activation of existing capacities, the revival of low-yield wells, the development of joint fields, and the strengthening of processing and transportation infrastructure. In this context, an emergency plan to increase crude oil production by 250 thousand barrels has been defined with a budget of 3 billion dollars, of which 70 thousand barrels per day of the target has been achieved so far.
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Investment and Financing of Projects
The financing of this plan includes 80 percent from the National Development Fund and 20 percent from the internal resources of the National Iranian Oil Company. Additionally, contracts for the development of the Azadegan, Azar, Changuleh, and Band-e-Karkheh fields have been approved with a total investment of about 13 billion euros.
In the infrastructure sector, private sector contracts have been signed to create 315 thousand barrels per day of new processing capacity, bringing the total processing capacity allocated to this sector to 430 thousand barrels per day. Furthermore, 129 drilling rigs are active in the country, and a contract for the provision of services for 20 new rigs worth about one billion dollars has been signed for drilling 270 wells.
Continuation of Production and Development Programs
Hamid Bord, as the caretaker of the Ministry of Oil, emphasizes the continuation of production and development programs, strengthening oil trade and sales policies, rebuilding damaged areas, and accelerating ready-to-open projects. He has stressed the serious pursuit of oil sales matters and the necessity of solidarity and increased efforts from employees, calling for the transformation of the country's capacities into an opportunity for construction.
The continuation of this path depends on coordination among production, development, processing, and sales, sustainable financing, and utilizing the capabilities of domestic experts; factors that can turn the created capacity into sustainable production and reliable income for the country's economy.
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