Azernews.Az

Iran is ready to inaugurate an oil refining facility in the west of the country, which is projected to add 125,000 barrels per day to the country's oil refining capacity and 60 million cubic feet to its gas refining capacity, Mehr news agency quoted Iranian Central Oilfields Company Managing Director Mehdi Fakour as saying,Trend news agency rep[orted.

The Cheshmeh Khosh facility will be the largest one in the west of the country, he said, adding that about €6.2 million plus 361 billion rials (some $30 million) has been invested in the project.

Fakour said in October 2012 that the company has allocated one billion dollars for developing oil and gas fields during the past year.

Four Iranian oilfields are in the final stages of development and will start production by the end of the current Iranian calendar year (March 20, 2013), he said.

Shana news agency quoted him as saying that Cheshmeh Khosh field's output will be doubled to 180,000 barrels per day.

"Sarvestan and Saa'databad fields will also start 15,000 barrels per day production by September," he noted.

The National Iranian Oil Company's managing director Ahmad Qalebani has said that the country's daily oil and gas output should amount to five million barrels and 1.47 billion cubic meters by 2015.