Iran boasts of oil production

TEHRAN, Feb. 3 (UPI) -- Iranian oil officials boasted of the national oil refining capacity at four oil fields during the inauguration of new infrastructure.

Iranian Oil Minister Gholamhossein Nozari said during an inauguration of new infrastructure at the Lavan oil complex in the Persian Gulf that oil production there would increase by some 250,000 barrels per day, the official Islamic Republic News Agency reported.

Four oil fields near Lavan Island -- Lavan, Resalat, Reshadat and Salman -- have proven reserves of about 10 billion barrels, the minister said.

Liquefied natural gas storage, refining and recovery units and other facilities came online during the weekend.

IRNA said there are plans to invest some $2.14 billion at the Bandar Abbas refinery to boost production there over the next three years.