Iran sets up biggest persian gulf oil platform

Iran installed the largest offshore oil platform in the Persian Gulf.The P4 platform was built locally and installed in the Reshadat oilfield, 110 kilometers (68 miles) southwest of Lavan Island. The installation, previously planned for last month, will allow Iran to increase its crude-oil production by 75,000 barrels a day, Amir Panahi, managing-director of Tasdid, an Iranian company involved in the project, said Sept. 11. Iran, the second-largest producer in the Organization of Petroleum Exporting Countries, produced 3.59 million barrels a day in September, according to data compiled by Bloomberg.