Iran (IP) - Iranian Oil Minister announced on Thursday that Iran extracts 400,000 barrels of oil per day from southwestern joint Azadegan oilfield.

Iran PressIran News: The figure has been 70,000 BPD in the previous years, Bijan Namdar Zanganeh said in the online presence of President Hassan Rouhani at an inauguration ceremony on oil projects in the southwestern province of Khuzestan.

Azadegan oilfield is located in the west of Karoun River in the southwest of Iran near its border with Iraq.

Extraction of oil from joint oilfield is important as it is done to preserve the Iranian nation's rights, the minister noted.

Earlier in the morning, President Rouhani inaugurated three national oil processing projects in the west, southwest, and south of the country to produce oil derivatives.

Iran Oil Minister Bijan Zanganeh announced today that these three projects are worth more than one billion dollars of investment.

Zanganeh said that the oil ministry's main goal in the petrochemical sector is to move beyond crude sales, complete the value chain, and meet the domestic needs.

These projects were inaugurated in the condition that Iran has been dealing with the most severe oil sanctions in the last three years. However, this economic war against the Iranian nation could not stop oil development in the country.

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