Iran is preparing a $5 billion investment package for maintaining and enhancing production of the countrys oilfields, Iranian Minister of Petroleum Bijan Zangeneh said.

Iran says it is gearing up efforts including study of its oil reserves to ramp up the countrys crude oil production, a senior Iranian oil official says.

A senior official at Italys ENI says enhancing production from oilfields by even 1% would be a great advancement for Iran.

The Iranian Central Oil Fields Company (ICOFC) has pitched a new investment package worth over $5.5b to potential investors.

National Iranian Oil Company (NIOC) says it is ready to absorb fresh investments in Irans oil projects, an NIOC official told a conference in Singapore.

The National Iranian Oil Company (NIOC) and Russian energy giant, Lukoil, have signed two MoUs for carrying out geological studies on oil projects in the Caspian Sea.

Irans production of crude oil from Azar Oilfield, shared with neighboring Iraq, has exceeded 4 million barrels, operator of the field says.

Anglo-Dutch oil giant Royal Dutch Shell met with officials from the National Iranian Oil Company (NIOC) to discuss the development project of Irans Kish gas field.

Iran says its crude oil production will reach 4.5 million barrels per day in a matter of a few years, end of the 6th five-year development plan to 2022.

Ramin Hatami, Chief Executive Officer of the Iranian Central Oil Fields Company, Said that the company is ready to produce 200 million cubic meters of gas per day by South Zagros Oil and Gas Company, one of the three subsidiaries of ICOFC, during the winter.