VOL. XLVI

No 19

12-May-2003

IRAN

Irans Oil Capacity Faces Decline, Warns Fesharaki

Iranian oil production capacity is unlikely to increase significantly despite new development projects, according to Fereidun Fesharaki, President of FACTS Inc, Honolulu. In a private report Irans Oil Industry: The Next Phase, just completed this month, Dr Fesharaki writes: Iran faces a serious decline in production from the old fields. The decline is officially 5% a year, but more realistically it is 7-8% per...