Tag Archives | National Iranian Oil Company (NIOC)

Iran Discovers New Shale Oil Deposit

An Iranian official announced the discovery of new shale oil reserves in the country’s western province of Lorestan. Oil exploration studies in Qalikooh region in the province of Lorestan led to the discovery of a new shale oil field with 2 billion barrels of in-situ oil reserves, Bahman Soleimani, an official at the Exploration Directorate […]

Iran to Drill 500 new Oil Wells in 5 Years

By John Lee. Iran expects its oil production to reach 4 million barrels per day by mid-April, and plans to drill 500 new wells over the next five years to raise output to 4.7 million bpd, a senior oil official said on Saturday. Iran’s daily output in January was close to 3.9 million barrels. “We […]

NIOC, SINOPEC hold talks on Upstream Cooperation

Senior executives from the National Iranian Oil Company (NIOC) and China Petrochemical Corporation (Sinopec Group) met to discuss avenues for furthering cooperation in upstream projects. NIOC Chief Ali Kardor and Wang Yupu, Chairman of Sinopec Group, attended the Sunday meeting in Tehran. “NIOC’s priority is signature of deals under the new framework of oil contracts,” […]

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 […]

SADRA Building 10 South Pars Platforms

SADRA (Iran Marine Industrial Company) is building 10 offshore platforms to develop the remaining phases of the supergiant South Pars Gas Field in Persian Gulf waters. The company is expected to launch the platform of phase 22 of the gas field which is shared by Iran and Qatar, by June, said Gholamreza Manouchehri, the deputy […]

Malaysian Company to Study Iran Oil Fields

The National Iranian Oil Company (NIOC) and Malaysia’s Bukhary International Ventures (BIV) have signed a memorandum of understanding (MoU) for carrying out studies of Iran’s Golshan and Ferdowsi fields. The two sides signed the deal in Tehran on Wednesday. Based on the document BIV will submit the result of its studies to NIOC over the […]

15 Billion Barrel Oil Find in Iran

The Managing Director of the National Iranian Oil Company (NIOC), Ali Kardor, says new discoveries have placed Iran’s total in-situ oil reserves at least 15 billion barrels higher than previous estimates. 2 billion barrels of the amount can be recovered, the official told a press conference. Iran is estimated to be stilling atop 711.53 billion […]

Lukoil in Talks to Develop two Oil Fields

A senior official with Lukoil said the Russian energy giant is in talks with Iran to develop two major oil fields in western Iran. Lukoil is in negotiations with National Iranian Oil Company (NIOC) about the Ab Teymour and Mansouri oil fields in western Iran, Gati Al-Jebouri, Lukoil’s head of upstream for the Middle East, […]

Austrian Oil Firm signs Iran Agreement

Austrian oil and gas company OMV has signed a Memorandum of Understanding with Dana Energy, a “leading Iranian company targeting oil and gas upstream field development activities“. The parties agreed to evaluate possible upcoming development and re-development projects in the Iranian oil and gas industry. The document was signed in Vienna by S. Mostafa Khoee, […]

Germany Offers to Invest $12bn in Iran’s Oil Industry

Germany’s major oil and petrochemical companies, including BASF, have expressed their willingness to invest a total of $12 billion in the Iranian oil sector. The Chemical company BASF, whose managing director paid an official visit to Iran last year as a member of a delegation accompanying German Economy Minister Sigmar Gabriel, has offered to invest […]