Denmark-based Maersk Oil has estimated the potential output for the second phase of Iran's South Pars oil deposit at 120,000-140,000 barrels of oil per day (bpd), said a top official.

The estimate is part of Maersk Oil's development study for the second development phase of the offshore oilfield, Gholamreza Manouchehri, vice president for engineering and development at National Iranian Oil Company (NIOC) was quoted in an Iran Daily report, which cited Reuters.

Maersk Oil signed a memorandum of understanding with NIOC in 2016 towards exploration opportunities, the report said.