TEHRAN - The Iranian government approved on Monday an increase in production from 29 oilfields across the country, IRNA reported.

The decision was made during a meeting of the council of economy, headed by First Vice-President Es’haq Jahangiri.
According to Jahangiri, oil production growth is a necessity which could lead to significant job creation in oil-rich regions.
In recent years, Iran’s oil industry has been strongly focused on developing oil and gas fields, aiming to increase output.
Deputy Oil Minister Ali Kardor has put the country’s oil production capacity at 3.95 million barrels per day (bpd), of which about 2.5 million bpd is being exported.
OPEC’s latest monthly report published on May 14 put Iran’s oil production, based on secondary sources, at 3.823 million bpd in April.

EF/MA