"We are currently monitoring the problems and obstacles our banks are facing with, since it will take a few weeks to be solved and once there would be no other major problem, Iran would definitely be ready to boost production and export," Roknoddin Javadi said, as quoted by the company.
According to Javadi, the increase in production capacity is among the company’s top priorities.
"Today, there is a great opportunity to accelerate the pace of development and it certainly affects the oil industry in an extensive way," the official said.
The announcement comes amid oversupply in the global oil market, with the Organization of the Petroleum Exporting Countries refusing to cut down its daily output.
According to OPEC, Iran currently exports just over 1 million barrels of oil per day, producing over 3 million barrels daily.