Iran plans to next week install a crude platform in the Persian Gulf that will allow the country to increase its oil production by 75,000 barrels per day, Press TV reported, citing Amir Panahi, managing director of Tasdid, an Iranian company involved in the project.
The platform, referred to as P4, will be the largest in the Persian Gulf, Panahi said without giving details about the costs. It will be installed in the Reshadat oilfield located 110 kilometers (68 miles) southwest of Lavan Island, according to the state-run report published yesterday.
Source: Bloomberg
