Irrespective of how quickly a new iteration of the Joint Comprehensive Plan of Action (JCPOA) – ‘nuclear deal’ – is signed between Iran and the U.S., plus the remainder of the P5+1 group of nations that agreed the original version (the U.K., France, Russia, China plus Germany), Tehran is now looking to increase its oil output from all of the fields that constitute its massive West Karoun cluster.With over 67 billion barrels of oil in place across the West Karoun oil fields, the Petroleum Ministry says that each one percent improvement in the rate of recovery would increase recoverable reserves by 670 million barrels or some US$33 billion in revenues even with oil at US$50 a barrel. This output expansion drive includes some of the fields that are less well known than the supergiant West Karoun sites of Azadegan (North and South), Yaran (North and South), and Yadavaran, but […]