Iran’s crude oil production capacity rises 8.3% in two years
Iran’s daily crude oil production capacity rose by 8.3% over two years to 3.715 million barrels in October 2026 from 3.43 million barrels in September 2024, despite sanctions, financial and technological constraints, and security tensions, IRNA reported.
The increase amounted to 285,000 barrels per day, while production capacity in October was 55,000 barrels per day higher than in the same month a year earlier, according to the report.
The Oil Ministry has focused on bringing existing capacity back into operation, reviving underperforming wells, developing shared oilfields, and strengthening processing and transportation infrastructure.
As part of these efforts, a $3 billion emergency plan was launched to increase crude oil production capacity by 250,000 barrels per day. So far, 70,000 barrels per day of the target has been achieved, the report said.
Funding for the plan comes 80% from the National Development Fund and 20% from the National Iranian Oil Company’s internal resources.
Development contracts for the Azadegan, Azar, Changuleh and Band-e Karkheh oilfields have also been approved, with total investment estimated at about 13 billion euros.
In infrastructure, contracts have been signed with private-sector companies to establish an additional 315,000 barrels per day of processing capacity, bringing the total processing capacity allocated to the private sector to 430,000 barrels per day.
Iran currently has 129 active drilling rigs, and contracts worth about $1 billion have been signed to provide services for 20 additional rigs to drill 270 wells, according to the report.
The remarkable growth comes in direct defiance of the US administration’s aggressive campaign to bring Iran’s oil exports down to absolute zero.
Despite decades of unilateral sanctions, financial blockades, and security tensions orchestrated by Washington, Tehran has successfully leveraged domestic expertise to not only sustain but significantly expand its hydrocarbon output.