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Iran Generates $5bn Per Year Through Joint Oil Fields With Iraq

Annual revenues released by NIOC

The National Iranian Oil Company have announced that $5bn per year in revenues are generated from joint oil fields with Iraq. 

Iraq have 5 oil fields on the border of Iran, with a further 5 oil fields shared by the two countries which hold an estimated 95 billion barrels of crude oil reserves. The revenues come as a result of 300,000 barrels per day being produced throughout the oil fields west of the Karun River, according to the Iranian Oil Ministry.

Source: Middle East Monitor

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