Tag Archives | Iran Petroleum Contract (IPC)

Iran’s New Industrial Policy to “Transform Political Economy”

By Esfandyar Batmanghelidj, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. New Industrial Policy Poised to Transform Iran’s Political Economy This past summer, the Industrial Development and Renovation Organization of Iran (IDRO) concluded landmark agreements with French automaker Renault and transportation giant Alstom as well […]

Iran Plans to Award $15bn in New Oil Deals

The next Iranian oil and gas award would be based on the framework of the agreement signed with the French energy giant Total last month over the development of South Pars Phase 11, the deputy director for development and engineering affairs of the National Iranian Oil Company (NIOC) has said. Gholamreza Manouchehri stated that Iran […]

Talks with 27 Foreign Firms over Major Oil Projects

Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia said Tehran is in negotiations with 27 foreign companies over oil projects worth $200 billion. “I can assure you this (gas deal with Total) isn’t the last one,” Zamaninia told CNNMoney on the sidelines of an oil conference in Istanbul, Turkey, on Tuesday referring to […]

Total and NIOC sign South Pars Development Contract

French oil major Total and the National Iranian Oil Company (NIOC) have signed a contract for the development and production of phase 11 of South Pars (SP11), the world’s largest gas field. The project will have a production capacity of 2 billion cubic feet per day or 400,000 barrels of oil equivalent per day including […]

Iran will Sign New Oil Deals Worth $15bn

Managing Director of the National Iranian Oil Company Ali Kardor announced that the NIOC will sign several multi-billion-dollar crude contracts with foreign countries to develop the country’s energy fields. “We estimate to conclude new oil contracts with international companies valued at $15 billion,” Kardor, also Iranian Deputy Oil Minister, said. He, meantime, pointed to the […]

Zangeneh Prioritizes NIOC Projects for This Year

Iran crude oil output should stabilize at 4 million barrels per day by the end of the current fiscal in March 2018. Restoring relations with oil majors and raising crude production top Iran Oil Ministry’s priority list, Bijan Namdar Zanganeh, the oil minister, said. In a letter to Ali Kardor, managing director of the National […]

Iran to Sign $80bn Oil Deals in 2 Years

Iran plans to strike $80 billion worth of oil contracts over coming two years as the country is set to implement newly-developed IPC contracts, a deputy head of National Iranian Oil Company (NIOC) said on Monday. “After signing $80 billion worth of contracts over the next two years, a labor market valued at around $50 […]

Iran’s New Oil Contracts “Will Help Job Creation”

New contracts with international oil majors will help create thousands of jobs and plough billions of dollars into the key petroleum industry, according to Reza Khayyamian, head of the Society of Iranian Petroleum Industries Equipment Manufacturers. “If foreign companies come to Iran’s energy market and sign the (oil) deals, almost 100,000 jobs will be created,” […]

Hungary’s MOL considers Iran Oil Projects

Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia said Hungarian oil and gas group MOL has expressed willingness to enter into partnership with Iranian firms and join the country’s oil and projects. “Presence and partnership in natural gas export projects in Iran and construction of gas pipelines were the main areas MOL has […]

National Security Council reviewing new Oil Contract Model

By John Lee. According to Reuters, Iran’s Supreme National Security Council (SNSC) is still reviewing the new Iran Petroleum Contract (IPC) model. Oil Minister Bijan Zanganeh was quoted as saying that the contracts appear to face fresh delays; it has been delayed several times due to opposition from hardline rivals of President Hassan Rouhani. Zanganeh […]

Final Version of New-Style Iran Oil Contracts Prepared

The ultimate version of a new format of Iran’s oil contracts, known as Iran Petroleum Contract (IPC), has been prepared in compliance with the cabinet’s measure and will be used for putting development of a major oil field out to tender in spring. According to Tasnim dispatches, the final version complies with the conditions set […]

Lukoil Optimistic on Iran Oil Deals

By John Lee. A senior executive at Russia’s Lukoil has said he is optimistic about new oil deals in Iran. Gati Al Jebouri [Gati Saadi Al-Jebouri] (pictured), the company’s vice president in the region, told Gulf News: “… we are in active discussion with NIOC (National Iranian Oil Company) to develop two oilfields, Ab-Teymur and […]

NIOC Denies Halt to New-Style Iran Oil Contract

An Iranian oil official dismissed comments by an MP that a new format of the country’s oil contracts has been abandoned, saying the high degree of sensitivity requires experts to spend more time on formulating the final version of the contract before it comes into force. Speaking to Tasnim on Tuesday, CEO of the National […]

Iran to Launch First New-Style Oil Tender in 4 Wks

A senior Iranian oil official announced that the development of a big oilfield in the southwestern province of Khuzestan will be put to tender for the first time under a new model of oil contracts, known as Iran Petroleum Contract (IPC), within up to four coming weeks. The project to develop South Azadegan oilfield, would […]

Iran Approves 29 Int’l Companies for Oil Projects

Iran’s oil ministry has certified 29 international companies to bid for oil and gas projects in the country under its new format of oil contracts. According to the report by the oil ministry’s news website Shana, 29 companies, including Shell, France’s Total, Italy’s Eni, Malaysia’s Petronas and Russia’s Gazprom and Lukoil, as well as companies […]

Iran to Announce Int’l Tender Offer for Oil Projects

Iran is going to hold an event in early 2017 to put its oil projects out to tender for global contractors, an official announced. Speaking to reporters on Wednesday, CEO of the National Iranian Oil Company (NIOC) Ali Kardor said the international tender offer is scheduled for the early months of 2017. According to the […]

Will Iran attract Int’l Oil Firms in Post-Sanctions Era?

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The signing of a heads of agreement (HOA) between Paris-based Total SA, China National Petroleum Corp. (CNPC) and Iran’s Petropars on the development of phase 11 of the South Pars gas field is an […]

Total Signs $4.8bn Gas Deal with Iran

By John Lee. French oil giant Total has signed a Heads of Agreement (HoA) with the National Iranian Oil Company (NIOC) for the development of phase 11 of South Pars, the world’s largest gas field. The company becomes the first western energy firm to sign a major deal with Tehran since the lifting of international […]

BP in Talks with Iran to Develop 4 Oilfields

The Director of the National Iranian South Oil Company (NISOC), Bijan Alipour, said negotiations are underway with the British Petroleum (BP) on development of four oilfields in south of Iran. The National Iranian South Oil Company has held talks with 22 domestic and foreign companies for contracts to develop Karanj, Parsi, Rag Sefid and Shadegan […]

Iran to sign 6 Oil Contracts with Int’l Firms

Iran will soon sign six agreements with international energy giants over the development of its oil sector projects, Gholam-Reza Manouchehri, the deputy for engineering and development affairs of the National Iranian Oil Company (NIOC) stated. Emphasizing that the companies that win oil sector deals in Iran will have to team up with locals Manouchehri said: […]