Iran looks to ramp up production in four lesser-known oil fields Iran’s Petroleum Ministry looks to use EOR-techniques to extract more oil from existing fields Iran enjoys some of the lowest lifting costs per barrel in the world Ahead of the new iteration of the ‘Joint Comprehensive Plan of Action’ (JCPOA) that Iran expects to have in place before 20 March 2022 , the country is looking to increase crude oil output not just from its major fields in West Karoun and shared fields with Iraq and others, but also from lesser known fields that nonetheless have billions of barrels of oil reserves, largely untapped. There are additional benefits to developing these fields: first, virtually all of their output has a guaranteed buyer in China, in line with the 25-year Iran-China deal ; and, second, news relating to these lesser known fields is less likely to reach the Iranian […]