The Iranian regime’s oil output statistics cannot even match the share assigned by OPEC and its production is decreasing by the day.
The US Energy Information Agency in its most recent report announced the Iranian regime’s daily oil production in 2011 has been 3.6 million barrels a day, yet due to worn out and old oil wells these numbers are decreasing 400 to 700 thousand barrels a day each year.
Based on this report, to stabilize its oil production the Iranian regime needs to maintain and improve the technical structure and inject gas into its oil fields. However, this issue is facing serious problems due to increasing internal gas demand.
Another method to increase oil production from old oil fields is to install pumps inside the well, although the Iranian regime gaining access to these types of pumps is very difficult since they are included in the sanctions lists.
According to an expert report currently 80% of Iran’s wells are in the second half of their lifespan and they are witnessing a drop in oil pressure. In addition to these conditions, the regime’s oil export is decreasing by the month. Currently, Tehran is exporting 2.2 million barrels a day which is approximately 500,000 bpd less than 2006. At this point, the Iranian regime’s oil exports are 300 to 400 thousand bpd less than OPEC-set amount.