TEHRAN – Iran’s Petroleum Minister Mohsen Paknejad on Wednesday announced a daily production increase of more than 120,000 barrels and said crude exports have reached record levels in recent months despite sanctions. 
He added that the possible reactivation of the “snapback” mechanism poses no new concern for oil sales.
Paknejad said that despite significant restrictions over the past year, Iran has at times set records in crude oil production and exports. “I am sharing these figures so our people know their sons in the oil industry are working hard despite the challenges and sanctions,” he said.
Addressing public concerns over the snapback mechanism’s potential impact on oil exports, Paknejad noted that since the enactment of the “SHIP Act” last June, Iran has faced severe restrictions but managed to bypass them through “necessary measures.” He said the possible enforcement of snapback sanctions would not impose tougher conditions than before, though some complications might arise. “People should not be worried; with God’s help, oil exports are proceeding successfully,” he said.
Paknejad said a working group of university professors, industry experts, and energy specialists has been formed to enhance oil and gas production technologies in line with the Supreme Leader’s directives.
The minister said the group has already held two sessions and is focusing on modern technologies for oil and gas field development and improving recovery rates. “Iran’s oil and gas fields have significant potential to increase recovery rates,” he said, adding that domestic capabilities exist to adopt advanced technologies and the group’s findings will be shared with the public.
Discussing the Paznan field’s role in reducing energy imbalance, particularly in winter, Paknejad said new studies estimate an additional 10 trillion cubic feet of gas reserves. After development, the field is expected to produce over 20 million cubic meters of gas per day.
“This is a significant amount that will help balance supply during peak winter demand, when gas must be prioritized for households and commercial users,” he said. The project’s investment comes from a major petrochemical holding, which will use part of the gas for its own operations and supply the rest to the national network.
Paknejad said the government has short- and long-term plans to reduce flare gas burning. In the short term, private firms will be allowed to participate in flare gas recovery projects “even with a base price of zero,” turning captured gas into high-value products.
He noted that long-term plans include NGL projects, one of which was inaugurated last month in the presence of the president. “By the end of the Seventh Development Plan, most associated gas will be recovered,” he said.
Flare gas, he emphasized, is a valuable national resource that must not be wasted. “We will do everything possible to collect and utilize this gas in the shortest possible time,” he said, adding that the president has pledged full support to accelerate these efforts.