Iran is pursuing a plan to increase its oil output by 460 MMbbl within three years, oil minister Bijan Zanganeh said on June 9, according to SHANA, the news site of the Iranian oil ministry.

The plan will focus on increasing output from 29 oil fields, including in Ilam, Khuzestan, Gachsaran, Falat Qareh and Fars, Zanganeh said.

The bulk of the work to increase the output at the oilfields will be carried out by Iranian companies, Zanganeh said.

"More than 75% of the equipment for developing the output is Iranian," Zanganeh said, according to SHANA.