12:33 GMT +323 October 2018
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    Iran to Produce Oil Despite Sanctions

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    Despite Western sanctions Iran will proceed with increased oil and gas production, Iranian President Hassan Rowhani claimed Tuesday.

    Rowhani was speaking on TV in the course of inauguration of Phase 12 to expand the South Pars gas field. According to Rowhani, the increased gas production shows that Western sanctions, imposed over Iranian controversial nuclear program, were inefficient.

    "We succeeded in finalizing huge projects during the sanctions," Rouhani was quoted as saying by The Charlotte Observer. "By inaugurating this project, we announce to the world that the era of pressures… is over."

    The additional production from the South Pars field, the world’s largest gas field, shared with Qatar, will supplement Iran’s total production with 81 million cubic meters of gas, approximately at 600 million cubic meters a day, state TV said.

    By 2018, Iran intends to boost its gas production to 1 billion cubic meters a day. Iran is the world’s third largest oil exporter and has the second largest natural gas reserves.

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    Tags:
    sanctions, production, gas, inauguration, Hasan Rowhani, Iran
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