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Commodities

Iran Eyes April Start for South Pars Oil Extraction

Guavy AI Editorial Team
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Oil
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A senior Iranian minister has announced that oil extraction from South Pars is expected to begin by April. The FPSO (Floating Production, Storage and Offloading) unit in the Persian Gulf will be used for this operation.

The FPSO unit can produce up to 35,000 barrels of oil per day initially, with plans to increase this figure to 100,000 barrels per day in a second phase. This move is seen as a significant step towards boosting Iran's oil production capacity.

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