National Iranian Oil Co.announced that crude oil production from the joint Iranian-Iraqi Dehloran Oil Field has risen by 5,000 barrels per day over the same period a year ago, NIOC said on Friday, as reported by Press TV.
In 2012 Managing Director of Iranian Central Oil Fields Co. Mehdi Fakour announced that his company planned to develop the second phase of the Iranian-Iraqi Dehloran field to increase its output by 25,000 barrel per day. Iranian Oil Ministry officials estimate that the Iranian-Iraqi Dehloran oil field contains nearly 4 billion barrels of oil reserves.
Despite sanctions over its civilian nuclear program, Iran shares a number of joint oil and natural gas fields with many of its neighbors, including Iraq, Kuwait and Qatar. According to NIOC, there are 23 joint hydrocarbon fields between Iran and Iraq which are subdivided into exploration, development and production categories.