Iran's oil industry reached a daily production capacity of 3.715 million barrels in Mehr 1405, indicating an increase of 285 thousand barrels compared to Shahrivar 1403. This increase represents an operational growth of 8.3 percent achieved under challenging economic and sanction conditions.
Production Increase and Optimization Plans
The trend of crude oil production during this period shows a daily growth of 55 thousand barrels compared to Mehr 1404. These advancements are the result of injecting 3 billion dollars in liquidity and focusing on optimizing surface facilities and reviving idle assets. An emergency plan to boost crude oil production by 250 thousand barrels with an investment of 3 billion dollars is underway, which has so far stabilized a yield of 70 thousand barrels per day.
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Challenges and Future Solutions
However, maintaining the production record of 3.715 million barrels is a serious challenge. The country's hydrocarbon reservoirs naturally face an annual production decline of between 8 to 10 percent. To maintain the current capacity, the oil industry needs to create approximately 300 thousand barrels of new compensatory capacity each year. For this purpose, the use of modern enhanced oil recovery (EOR and IOR) technologies and the injection of gas and water into the caps of aging fields are prioritized.
Currently, in addition to efforts to increase production, Iran's oil industry is also working on collecting associated gas. This action not only helps prevent resource wastage but can also assist in supplying feedstock to petrochemical units and stabilizing the gas network in winter.
Stabilizing this level of production under sanctions will contribute to increasing Iran's share in the oil market and strengthening Tehran's diplomatic bargaining power in global equations. Ultimately, the increase in oil production, which has also been highlighted in the seventh development plan, is of special importance and can add to the national wealth of the country and positively impact the national economy in the coming years.
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