Iran opens three new oilfields as it boosts output

DUBAI: Iran opened three oilfields with a total production of more than 220,000 barrels per day (bpd) on Sunday, as the country ramps up its production after the lifting of sanctions.

President Hassan Rouhani officially launched the first phases of the Yadavaran and North Azadegan fields as well as the the North Yaran field, which are shared with neighbouring Iraq, the Iranian oil ministry’s news agency SHANA reported.

Yadavaran will have a production of up to 115,000 bpd in its first phase and North Azadegan’s output is 75,000 bpd, SHANA said.

North Yaran will initially produce 30,000 bpd, the news agency reported last week.

(Reporting by Dubai newsroom; Editing by Elaine Hardcastle)