Zangeneh made the remarks in the signing ceremony of a contract to develop South Azadegan Field.
"The oil revenues to be gained from South Azadegan oilfield is also expected to grow by $1 trillion," the Iranian oil minister said, noting that the 10 percent rise planned in extraction rate from the shared field of South Azadegan.
Zangeneh emphasized the need to give a boost to activities in shared fields both in West Karoun and South Pars.
He, however, noted that the same measures have been taken to develop other shared fields which will bear fruit wihtin next one year.
Iran has increased its production capacity in West Karoun from 70,000 barrels to 400,000 barrels, Zangeneh added.
Azadegan is one of the six joint fields Iran shares with Iraq, along with Azar, Dehloran, West Paydar, Naft-Shahr and Yadavaran.