Iran started production of extra-heavy oil with the API gravity of 20 from West Karoun reserves, especially from the South and North Azadegan fields, despite US threats of sanctions against the country's trade and oil exports.
The gravity degree of the new extra-heavy oil, also called Persian oil, is 20 and is produced in the oilfields in West Karoun, especially South and North Azadegan fields.
Iran now has the most variety in oil production with eight types of light and heavy crudes.
Iran has an advantage in global markets due to its range of petroleum products. Oil from the Hengam oil and gas field is the lightest in the world, while the oil from other fields in the Persian Gulf, such as Soroush, Noruz, and Forouzan, are among the heavy brands.
The development of new phases in the South Pars field gives Iran substantial capacity to produce gas condensate, a product which can be combined with heavy — and even extra heavy — crude oil.
National Iranian Oil Company (NIOC) announced earlier this month that Iran's crude oil and gas condensate exports reached 2.75 million barrels per day in the period between April 21 and May 21.
The company said export cargoes were bound for Asian and European markets during the period.
The country exported 2.45 mbd of crude oil and 300,000 bpd of gas condensate during the month.
One third of the exports (over 800,000 bpd) were destined to Europe during the period, NIOC said.
China and India, as usual, were Iran's biggest buyers.
