Iran sits on world's largest proven gas reserve of 1201 trillion cubic feet, which would enable Iran to supply natural gas for the next 165 years at the current production rate
It is located near the border with Iraq and is estimated to hold 37 billion barrels of oil, which is more than 26 years of output at Iran's current production rate
Awad affirmed that on the job knowledge and the experience gained by the national cadres in the oil industry have played key role in preservation of the oil production where a number of engineers working in the Greater Nile Company was able to retrieve the production through the wells which stopped production during the last period, praising the initiative of the Sudanese youth in keeping the current production rate
and inventing new ways to raise the rate of extraction in the light of the difficult conditions facing the oil sector worldwide as a result of low prices that led to the reluctance of investors to increase oil exploration due to the high costs of oil industry.
The 777 product family is a huge cash cow, so Boeing would like to maintain the current production rate
if at all possible.
The expert went on to say that Iraq's current production rate
at four mln bpd is expected to continue for another two years.
However, Saudi Arabia in an attempt to maintain its share in the oil market and considering the decline in crude oil prices to be a short term phenomenon, has decided to maintain its current production rate
and carry on with its oil and gas exploration and production activities as planned.
The minister revealed the reason behind OPEC's decision last November to keep the current production rate
un-changed by recalling that non-OPEC producers increased their output in the 1980s, when OPEC had decided to slow down.
Speaking at the ceremony, Salim al Sibani, CEO of OOCEP, commented, "The facility's current production rate
of 27MMscfd of gas and 2,500 barrels per day of condensates will be increased gradually to 70MMscfd of gas, and 6,000 barrels of condensates per day by the end of this year.
The kingdom, a founder member and historic power broker of Opec, also possesses one million barrels per day (mbd) of spare capacity at its current production rate
, more than 90 per cent of the group's spare production.
Asked if he based his forecast on the current production rate
That is the current production rate
of all manufacturers running all their machines at full capacity.
The current production rate
in block 3 and 7 is averaging 185,000 barrels per day.