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EghtesadOnline: Petroleum Minister Bijan Zangeneh said on Tuesday that Iran is committed to its quota in the second half of 2017 and is determined to continue its 3.8 million barrel per day.

He told reporters in the Azar Oil Field in Mehran city that if OPEC member-states remain committed to their obligations, Iran will export 3.8 million barrel per day in the second half of 2017 and will not face any limitations, IRNA reported.

He added that the most important approach of the Petroleum Ministry in the framework of the determined policies by the Supreme Leader to implement resistance economy is prioritized in exploitation of joint oil and gas fields.

Azar Oilfield reserve capacities has increased from 2.44 billion barrels to around 4 billion according to the most recent evaluation, Zangeneh said, underlining, 'We hope by executing development plans to increase exploitation capacities to 100,000 barrel per day.'

He said that 'we are negotiating with Russian Gasprom to participate in Azar 2 Field, because the field may play important role in providing materials for NGL-3100 and Dehloran‘s Petrochemical.

The minister said that development plan of Iraq Badrai oil field is by Gasprom and a Malaysian company.

He did deny that data concerning Azar oilfield might be at proposal of Iraqi side by the Russian company and underlined the necessity in the execution of contract carefully.

Bijan Zangeneh arrived in Ilam on Tuesday to attend exploitation ceremony for first phase of joint oil field of Azar.

Bijan Zangeneh Iran oil Iran oil quota